Taps Coogan – February 19th, 2022

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The American Association of Individual Investors (AAII) sentiment survey has been asking its members whether their outlook is bearish, neutral, or bullish since 1987.

In the last week of January, the percent reporting a bearish outlook (52.9%) actually exceeded that portion during severe market correction at the start of Covid in 2020 and the highest number since the ‘Taper Tantrum’ of 2013, itself one of the higher readings on record.

The bearishness has subsequently backed off modestly in February, but it’s clear that the fear of tightening is real.

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