Reported 2 months ago
Despite a weak July jobs report causing a three-day sell-off, economist Torsten Slok argues that the market is overreacting, as other economic indicators remain strong. He highlights robust data from air travel, restaurant visits, and retail sales, suggesting that fears of a recession may be overstated. Slok attributes the tech sector's decline to stretched valuations and an unwinding of carry trades that have been negatively impacted by rising yen interest rates.
Source: YAHOO