The market rebound this week hasn't convinced the strategist predicting a 'Lehman-like' sell-off that the risk is completely off the table.
Nomura macro and quant strategist Masanari Takada earlier this month predicted a crisis-level plunge to arrive as soon as late August.
"The current equity rally seems largely driven by wishful thinking," Takada said. "Investors should be on their guard until it becomes clear just how dovish Fed Chair Jerome Powell will lean in his comments at Jackson Hole." to arrive as soon as late August. With a key speech from Federal Reserve chairman on deck and the bond market's repeated recession warnings, the likelihood of a sell-off that catastrophic is still not zero, according to the strategist.
"The current equity rally seems largely driven by wishful thinking," Takada said. "Investors should be on their guard until it becomes clear just how dovish Fed Chair Jerome Powell will lean in his comments at Jackson Hole."
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