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 impact did the revisions have on the enthusiasm for the economic outlook?

How might the Brexit outcome influence the Federal Open Market Committee's decisions?

What factors contributed to the market reaction observed in stocks and the dollar?

Discuss the significance of international fund flows in the context of global GDP.

What concerns arise regarding U.S. equity markets and potential corrections?