Taps Coogan – May 1st, 2021
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The following chart, from Bank of America via M/I_Investments, shows the real driver behind the Big Tech rally over the past many years: loose monetary policy.
If central banks are going to start slowing the pace of monetary expansion, and that’s a big if, Big Tech stocks may start coming under some degree of pressure, similar to what happened in 2018 & 2019.
That chart above is yet another reminder that under every rock and around every corner in the financial world, you can always find the Fed.
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