I’ve yet to hear a single, not one mind you, Wall Street/FED economist…certainly not many portfolio mangers…speak the truth as to why global financial markets are trading like a brutal recession (at minimum) is just around the corner.
There are just two reasons why this might be; 1) they truly don’t see the downside risks (economists) or 2) they have been instructed to “talk up the market”…so that their firms can sell their own positions (this happens ALL the time…something to keep in mind when you hear a portfolio mgr talking up their books).