September 2025 Market Strategy
The Institutional Investor pain train is approaching the final station.
In my August 2025 Market Strategy, I argued that the forced capitulation of overly cautious positioned institutional investors is the biggest story driving this market and that incoming rate cuts may become the pinnacle of that capitulation. I also voiced concerns that investors may not be fully appreciating the risks associated with the ongoing trade war. Let’s check how the picture has evolved since then.