Always fun to put together two stories.
Bank of Tokyo Mitsubishi says the US economy no longer needs Fed support and advise the Federal Reserve to hike rates
Meanwhile, UBS see the chance of a stock market crash rising
- Looking for a 20% fall
- Cite high multiples, and the market seemingly underpricing macro risk
- "We believe we are witnessing the end of the credit cycle. Earnings growth rates are flat and the stock market impact has been increasing.
Importantly, from a risk perspective, Systemic Risk is rising, and Economic Policy Uncertainty has hit all-time highs"
