Smith: Revisions Took Chunk Out of Where We're Headed

The transcript discusses the impact of revisions on market enthusiasm and confusion regarding central bank communications. It explores potential rate hikes in July, contingent on Brexit outcomes, and analyzes market reactions, including stock movements and currency fluctuations. The discussion highlights international fund flows seeking positive yields in the US due to negative interest rates abroad. It concludes with an examination of the US market's liquidity and safety, questioning the sustainability of current valuations without a correction.

What was the main cause of confusion mentioned in the first section?

• Currency fluctuations

• The impact of Brexit

• Revisions affecting enthusiasm

• Stock market volatility

Which event was speculated to influence a potential interest rate hike in July?

• Brexit outcome

• U.S. GDP growth

• Unemployment figures

• Inflation rates

What was the observed behavior of the dollar and bond yields in the market reaction section?

• The dollar weakened and bond yields rose

• The dollar weakened and bond yields fell

• The dollar remained stable and bond yields rose

• The dollar strengthened and bond yields rose

What is the primary reason for international fund flows into the U.S. markets?

• High inflation rates

• Negative interest rates abroad

• Political stability

• Technological advancements

Why are U.S. equity markets considered attractive from a safety perspective?

• Quality and liquidity

• Strong economic growth

• Low inflation rates

• High dividend yields