Bolstered by strong balance sheets and the U.S. consumer, equity markets have outlasted repeated calls for a correction–but how long can it last? Deutsche Bank Chief Global Strategist Binky Chadha says that markets are overdue for a pullback, projecting a three to five percent decline in the near term.

the wobble is that, you know, we are basically overdue for a 3 to 5% pullback. It would be normal and believe it or not, we are now running in, you know, 95th percentile plus

in terms of the duration, even though it seems rather short since March since we had a 3 to 5% pullback. , as I said, you know, that's pretty normal. 3 to 5% Pullbacks happen every 2 to 3 months, so it's getting a bit extended. Number one number two, as you know, you know, the rise in positioning this time around has been, you know, pretty vertical, especially on the discretionary investor side. , and so it's an additional reason, really for looking for, you know, when that process is over. So, um, I'm not being normative about this

as to what should happen But, you know, if and when that does happen, we'll tell you that that part sort of played out the wobble is in place. Does that mean you reset your SPX outlook? Oh, no, no, no. We get 5000 this morning on pull back III. I think that, you know, it's important to keep in mind that we we haven't, fulfilled. Even the 3% correct, you know, pull back yet.

So we were down. Basically, III, I think, you know, a return of normality. , after this big reprice that we've had, you know, would be helpful just for our listeners and viewers, John. I mean, can we get to go to 5000 today with a Not today, but yes, it is our soft landing target.