Baird's Bittles Builds a Case for 4Q Market Bulls

The video discusses the current market certainty and the likelihood of a rate increase in December. It highlights the transition from monetary to fiscal easing and the implications for the global economy. The earnings season is analyzed, with a focus on market valuations and the importance of forward guidance. Market sentiment is explored, noting potential bullish trends in the fourth quarter due to seasonal factors. The impact of treasury yields on the market is considered, with an emphasis on the US economy's slow growth. Finally, the video examines potential market dynamics following the election, considering volatility in stocks, bonds, and currency.

What is the new level of uncertainty discussed in the first section?

• The stability of interest rates

• The effectiveness of fiscal easing over monetary easing

• The certainty of a political outcome

• The increase in global economic growth

What is the projected contraction in earnings for the third quarter?

• 1.2%

• 1.6%

• 2.0%

• 2.5%

Why are market valuations considered excessive?

• Because of low earnings

• Due to strong economic growth

• Due to high interest rates

• Based on 0% interest rates

What is the sentiment indicator suggesting about market rallies?

• Rallies occur when pessimism is excessive

• Rallies occur when interest rates rise

• Rallies occur during economic downturns

• Rallies occur when markets are overbought

What is the historical trend for the market from November to January?

• It is a strong period for the market

• It is a period of high volatility

• It is a weak period for the market

• It is an unpredictable period