On April 18, Michael Wilson, one of the most well-known short sellers on Wall Street and Morgan Stanley strategist, said that the rise of the S & P 500 index in the US stock market was driven by only a few stocks. Therefore, if bond yields rise, the index may fall. to a new low.
On a rolling three-month basis, the percentage of stocks outperforming the S&P 500 is the lowest on record, Wilson said.
“This is the market’s warning that we are far from a bear market,” he wrote in a note.
Wilson was ranked No. 1 in last year’s Institutional Investor survey for correctly predicting a stock market crash.