Closing Bell Overtime: Behind the Big Sell-Off 9/29/22
Closing Bell
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I Like Cash Better Than Everything Right Now
We've had nearly 15 years of an environment where there hasn't been a market-determined level of interest rates. That's led to a lot of leverage, excess speculation, and rising asset prices. So in that turn, it's changing the dynamic of valuation. We're slowing, but we're not yet in recession. Labor market's still really strong. And our expectation is that companies will be slow to lay off workers because there's a labor shortage.
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