Wells Fargo: Still 'Cautious' in Equities and Fixed Income

The transcript discusses economic indicators like yield curve inversion and the impact of Federal Reserve rate hikes on the economy. It highlights strategies for equity market positioning, favoring US large caps over small and mid caps, and developed markets over emerging ones. Concerns about valuations, particularly the 'Super seven' stocks, are noted, with risks in large caps due to multiple expansion without earnings growth. The transcript also covers expectations for future Fed rate hikes and their potential impact on markets.

What concerns are raised regarding valuations in the US market?

What indicators will be important to watch regarding the Federal Reserve's future actions?