Don't anticipate for another catastrophic collapse to affirm your recession predictions this year, says Canaccord Genuity Chief Market Strategist Tony Dwyer.
Don't anticipate another catastrophic collapse to affirm your recession predictions this year, but rather a slow-moving downturn, says Canaccord Genuity Chief Market Strategist Tony Dwyer. "This is the most talked about recession of all time," Dwyer told Melissa Lee on CNBC's " Fast Money " this week. He explained that one of the issues he sees among investors is they are waiting for another SVB or Lehman Brothers moment to signal a recession.
Despite the benchmark's 14% gain this year, Dwyer explained that the median stock in the NYSE is only up 3%. And 54% of the S & P 500 is trading 20% below its 52-week high. "We're in this squiggly environment where a lot of stocks have already come down quite a bit from their peak," he said. "And they're sitting there." How to play it Dwyer says investors should buy short-term U.S.
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