Joel Elconin, Co-Host of the Benzinga PreMarket Prep-Show, joins us to focus on the volatile US markets where we have seen weakness in a number of sectors based on expectation for the Fed rate hiking cycle to start in a few months, and due to geopolitical turmoil in Ukraine. We opine on just how many rate hikes the Fed can execute before the market sends a signal to ease up.
Next Joel discusses some financial stocks and payment stocks he likes in consideration of the potential of rising rates. This leads into a discussion about Bitcoin being chopped in half since the November highs, and that it didn’t end up being the inflation hedge or store of value that has been proposed by crypto bulls. Joel points out how the cryptos really trade more like tech or growth stocks, and so we review whether the selloff in that sector is due for a technical bounce.
We wrap up by looking at the recent move into the safe havens of the US dollar, bonds, gold, and Joel also discusses his preferred way to seek safety though dividend paying companies with control over their pricing to match inflation.