Fundstrat's Tom Lee Says Market Pessimism Is Excessive

Fundstrat's Tom Lee says the softer jobs report reduced expectations for a maximally hawkish Fed, which previously included three hikes and a 75% chance of an October increase.
If oil stabilizes and temporary inflation pressures fade, he expects softer readings over the next six months to help normalize bond yields.
Lee believes new highs in technology stocks and strength in crypto suggest markets are already anticipating easier financial conditions.