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News Story Source: Zero Hedge – Tyler Durden
… while cautioning that when looking at the Equity Risk Premium, the S&P 500 is once again overvalued relative to the 10Y yield…
… on Monday, the Morgan Stanley chief equity strategist targeted recent calls by the likes of JPMorgan's Marko Kolanovic, who not once but twice in one week predicted that with selling pressure at systematic funds having been exhausted, stocks are set for a big rebound, said that… this won't happen.
Commenting on the sharp moves observed last week, especially Tuesday's 500+ point Dow jump, Wilson notes that "last week saw the US Equity market rebound sharply from the prior week's sell off" and categorizes the sharp move higher as "a dead cat bounce with the downtrend resuming on Thursday."
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