Tom Lee, the Head of Research at Fundstrat Global Advisors, isn’t buying this narrative of “America in decline” or the “end of American exceptionalism” that is gaining steam in recent weeks.
What Happened: Lee said on Monday that he is not in the same camp as those who believe that “U.S. exceptionalism is over.” During an interview with CNBC’s “Squawk Box,” Lee was asked about the potential worst-case scenario involving a weakening dollar, rising yields, and foreign capital pulling out of U.S. assets.
Lee does not believe that this selling of U.S. Treasuries and dollars for other assets is sustainable, not unless “weaker dollar and higher yields suddenly lead to the best companies in the world being outside the U.S.”
“The best and most important …