Investing: Veteran Money Managers Bail on Stock Market Rally


Optimism about the near future interest rate cuts arouse just as much euphoria – and uneasiness – at the end of a turbulent quarter in the markets.

Prominent money managers have stopped chasing the latest stock rally, arguing that expectations of easier monetary policy from the Federal Reserve are overstated with inflation still hot. Should there be any interest rate cuts, they would be intended to stop an economic downturn which would also bode poorly for share returns, they believe.

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