Painful Repricing Has a Ways to Go, Says RBC's Calvasina

The video discusses the dynamics of the equity market in 2022, highlighting differences between the first and second halves of the year. It covers expectations for a strong value trade, particularly in financials and energy, before the first Fed rate hikes. Despite changes in rate hike expectations, strong economic growth is anticipated. The market is expected to eventually shift back towards growth, but current valuations need correction. The process of repricing is ongoing and may continue for some time.

What were the expectations for the first half of the equity market in 2022?

How did the performance of energy stocks in the first half of the year compare to expectations?

What factors typically lead to strong value leadership before Fed rate hikes?

What is the current outlook for growth in the economy according to the economics community?

What risks are penciled in for the year 2023 regarding market growth?