Midterm gridlock could clear the way for a risk-on rally, Tom Lee says
- —Lee expects an S&P 500 correction from mid-October through the midterms
- —He argues Democrats will back the CLARITY Act and data centers after the vote
- —Year-end S&P 500 target: 8,200–8,400, up as much as 9%
- —Yields below 5% and softer inflation would support risk-on, including crypto
Why it matters: A potentially less hawkish Fed and post-election progress on the CLARITY Act could act as catalysts for crypto in the fourth quarter.
Source: Crypto Briefing