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Stock Market Is Booming but UBS Strategist Warns ‘Fed Put’ Lost Power

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By CCN Markets: The stock market is close to record-setting highs, yet one Wall Street strategist says don’t believe the Fed hype. UBS Group’s head of equity strategy, Francois Trahan, has a warning for investors – the Fed doesn’t pack quite the same punch as it used to. According to Trahan cited in CNBC, the “Fed Put” on the stock market, which Haas School of Business at the University of California, Berkeley describes as “strong accommodation following poor stock returns,” is no longer a reliable gauge. “When it comes to U.S. stocks, the Fed put is dead. In the past

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* First published on ccn.com

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