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Albert Edwards, global strategist at Societe Generale, discussed the possibility that the Federal Reserve may need to implement 200 basis points of rate hikes instead of just two or three, and that U.S. 10-year Treasury yields could reach 10%.
Meb Faber highlighted these views from Edwards, adding that the outlook also includes the potential for the S&P to drop.
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Meb Faber has previously called attention to comments from Ed Yardeni about the influence of perma-bears on investor exits from the stock market, as noted in a recent article. He has also criticized the use of high income mutual funds within taxable accounts by financial advisors, according to another report. These earlier observations add context to Faber’s focus on shifting market outlooks.