The S&P 500 can rally 14% by the end of 2023, Ed Yardeni says

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The S&P 500 can rally 14% by the end of 2023, Ed Yardeni says
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US stocks could end this year 14% higher because banking turmoil will trigger a Fed pause, veteran investor Ed Yardeni says

SVB's swift collapse earlier in March came after it disclosed massive losses on sales from its bond portfolio, with the crash in value fueled by the Fed's aggressive tightening campaign. Bond prices tend to fall when borrowing rise, because investors can get a better return from parking their cash in savings accounts.

Meanwhile, some analysts have warned the turmoil could drag on stocks by fueling a credit crunch, as under-pressure banks become more conservative in making loans to listed companies.

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