Conshohocken Analyst Approves of Debt Ceiling Bill, Warns About Need for Further Inflation Decline

Brad Conger Hirtle Callaghan & Co.
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With the bill to lift the $31.4 trillion debt limit making its way up the chain to President Joe Biden’s desk, many analysts are satisfied with how the debt ceiling negotiations were resolved, writes Herbert Lash and Shreyashi Sanyal for Reuters.

“The bond market liked that there was some fiscal discipline and the equity market liked that it’s not going to hurt growth,” said Brad Conger, deputy chief investment officer at Hirtle Callaghan & Co. in Conshohocken. “I don’t think we could have asked for a better outcome.”

However, there are some issues left that still need to be addressed to ensure the flourishing of the bond market. These include equity valuations being stretched due to high interest rates, economic slowdown, and the need for inflation to decline further.

“Quite frankly, if we’re really slowing down, the market is not offering a free lunch,” said Conger. “It’s going to be a struggle if inflation is not perceived to be ebbing, which is where we are.”

Read more about Brad Conger in Reuters.


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