A meaningful surge to new market highs won't happen until 2020, Medley Global predicts (via TradingNation)
But his forecast doesn't apply to the next few months.
Despite this week's strong market gains, the firm's managing director of global macro strategy predicts uncertainty over the U.S.-China trade war and Brexit will prevail and continue to rock stocks. "We're dealing with a lot of slowdown in data, particularly on the trade front and across the globe," Emons he told CNBC's "" on Tuesday. "In 2020, if the trade deal between the U.S. and China gets resolved, and Brexit as well, the uncertainty disappears and the data can strengthen and then we'll see a big rally."
Emons' base case is the U.S. and China will make an official agreement on trade. Even if the deal is unspectacular, he believes it will relieve volatility and spark a historic market surge.Shorter term, Emons doubts a better-than-expected third-quarter earnings season would provide the essential power to sustain new highs. Right now, the
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