(MT Newswires) -- Evercore ISI president Ed Hyman cites positive market sentiment despite concerns about a possible recession. Hyman extends his forecast and now sees a recession in the third quarter of the year.

Hyman points to encouraging signs contributing to the market's upward trend, such as falling inflation, illustrated by wages that appear to be slowing, falling commodity prices and falling rents. 

He also notes the presence of a large amount of liquidity in money market funds and wonders about the future investment of this capital in an improving economic environment. However, it does not specify any investment strategies.

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