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Scared? You Are Not Alone: Wall Street Pros Explain The Fear And Loathing Gripping Markets

Courtesy of ZeroHedge. View original post here.

To those traders who are watching today's modest rebound in stocks – after a recent historic rout which saw the S&P suffer its worst December rout since the Great Depression – with excess skepticism and are unable to muster the confidence to pull the trigger and BTFD despite president Trump's promises that the water is now warm, you are not alone.

Below we present a handful of views from Wall Street strategists which confirm that with the S&P trading in and out of a bear market and action paralysis rampant, the financial pros not only don't trust any move higher but many remain borderline apocalyptic.

Masahiro Ichikawa, strategist at Sumitomo Mitsui

"In addition to concerns toward the U.S. economy, the markets are now having to grapple with growing turmoil in the White House which has raised political risk ahead of the year-end."

Kenta Inoue, market economist at Mitsubishi UFJ Morgan Stanley

"In the end, we believe that the Fed is the only presence capable of ending the current confusion in the markets. The White House will probably keep making gestures intended to halt the rout in stocks, but the federal government is likely to remain shut into the new year. The U.S.-China trade war also shows no signs of a resolution.”

Walter “Bucky” Hellwig, SVP at BB&T Wealth Management

"It is very unusual that the bias among the market participants is to the downside during this time of the year, and there’s not a lot of time to fix that. I am not a trader but I checked the futures three times on Sunday and am watching the futures on a Christmas evening as well — when you get moves like this you just can’t ignore them."

Bernd Berg, global macro and FX strategist at Woodman Asset Management.

"We are in the middle of the worst storm in global financial markets since the 2008 crisis, with markets crashing from New York to Tokyo. As global central banks are unlikely to come to the rescue this time around, the global market crash might continue well into next year."

Jingyi Pan, market strategist at IG Asia.

"As far as the futures are suggesting, the market is indecisive right now. The rather empty calendar and empty desks post-Christmas could mean that there may be little to arrest the fall should it unfold."

Stephen Innes, head of trading for Asia-Pacific at Oanda

"These are incredibly tricky markets to decipher as the outsized moves are not reflective of the current U.S. economic landscape. But that seems to matter little so far as fear mongering continues to permeate every pocket of global capital markets.”


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