Scott Minerd's  Instablog

Scott Minerd
Send Message
As Chairman of Guggenheim Investments and Global Chief Investment Officer, Mr. Minerd guides the Firm’s investment strategies and leads its research on global macroeconomics. Prior to joining Guggenheim Partners, Mr. Minerd was a managing director at Morgan Stanley and Credit Suisse. He is... More
My company:
Guggenheim Partners
My blog:
Market Perspectives
  • Market Jitters Return 0 comments
    Oct 3, 2012 11:52 AM

    A few weeks back I pointed out that every bit of good news was being discounted into the market and that a continuation of the trend was unlikely. Now that the good news has been digested, market participants are increasingly returning to their worries. Europe, China, and the Fiscal Cliff are back on center stage.

    This is not going to derail the underlying trends which support further U.S. expansion and the continued resolution of the issues on the continent. Nevertheless, the market needs time to consolidate and we are now in the most seasonally difficult time of the year.

    Given that credit spreads have plunged and equities have surged higher, especially in Europe, I would expect some kind of pullback in stocks and credit spread widening in the coming weeks. The good news is that pullbacks should be regarded as buying opportunities. I expect the rally to resume before the end of October, with the S&P500 reaching its all time high of 1,565 before the end of the year, and rising stock prices buoying Christmas sales.

Back To Scott Minerd's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.