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Andy Constan, founder / strategist at Damped Spring Macro, points out that single term premium models lack validity, while comprehensive models that incorporate various term premium elements offer more insight. He highlights that the firm’s current model shows term premiums at levels previously seen in only three significant stock market lows, suggesting these premiums are now relatively high. Constan adds that this scenario forms the basis for a bullish outlook on holding assets.
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Constan previously addressed market developments including clarifying the timing and process behind Oracle’s $7.5 billion share sale filing. He has also commented that central bank money printing is unlikely to resume while the economy and equities remain strong, according to his earlier views on potential policy shifts tied to economic or stock market declines. These comments add context to his current perspective on term premiums and asset positioning.