'The everything rally' still powering markets -strategist
STORY: "At the end of last year, the phrase coined was the 'everything rally', and I think we're seeing a recipe for the same thing occurring here," Luschini said. "Because it would otherwise be somewhat difficult to square, for instance, the rally in gold prices even as inflation continues to moderate," something he said would normally be "kryptonite," for gold.
"At the same time," Luschini added, "we're seeing stocks rally, we're seeing high-yield bonds rally, we're seeing even some modest recovery beginning to ensue in small cap stocks."
He attributed this to investors' confidence that the Federal Reserve would be able to "thread the needle of bringing down inflation without choking off economic activity." And that, he said, "should be an inviting environment for risk-based capital, which is finding its way into a variety of different instruments."
