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Macro Minutes: Sentiment and the Market
Key Points
- A sentiment bell curve helps us better understand what expectations are priced into the markets.
- For 2021, the majority of analysts predict US markets will increase between 1% and 9%, with a median forecast for a 6.5% increase in the S&P 500.
- Our research shows that markets often discount investor’s expectations and calendar year returns rarely align with professional forecasts.