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It's A "Bear Market Ceasefire Rally" But The "Recession Shock" Is About To Begin

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by Tyler Durden
Saturday, Mar 19, 2022 - 09:06 AM

After a torrid week for stocks that sent macro "experts" (or rather "tourists") into the insane asylum after OD'ing on crazy pills - after all, how could stocks possibly record their best week since the Biden election at a time when the Fed is officially hiking into what even the Fed admits is a slowing economy (apparently said experts can't comprehend that the market is already inverting TSY curves and pricing in the coming recession that will unleash a firehose of liquidity from the Fed) - Wall Street's most bearish strategist, BofA's Michael Hartnett explains that the marketwide meltup, facilitated in no small part by a historic short squeeze...

... is nothing more than a "bear market ceasefire rally" as the world continues to careen into stagflationary purgatory (if not hell) and the real bear market won't start until the recession does, some time in the second half of 2022.