Goldman Sachs highlighted that investor risk sentiment has reached its highest level since 2021, driven by improving global growth expectations and broad-based equity participation.

Risk sentiment remained cautious, and rate volatility stayed contained, reinforcing the sense that markets are trading momentum and credibility rather than reacting to any single data point — a dynamic echoed across global bond markets in recent sessions.

The University of Michigan’s January sentiment reading inched higher for a second straight month, signaling modest improvement, but confidence remains deeply depressed versus a year ago as consumers continue to cite high prices and a softening labor market.

If he knows the implementation is contrary to voter sentiment, why vote for it?  

And agree with the general sentiment.

Markets will then turn to Core PCE, the Federal Reserve’s most important inflation gauge, where any upside surprise would reinforce a more cautious policy stance while softer readings could support dovish sentiment.

Precious metals behave the same way—prices rise and fall based on sentiment, not reality.Rental income is different.

In general I agree with your sentiment, but …rent to value is at an all time low per 2 recent studies, the interest rate is near the high point for this century, and Los Angeles can be very landlord unfriendly.the high interest on high LTV loan (you are proposing at least 95% LTV) combined with poor rent to value can easily have a two unit negative $25k/year or more with accurate sustained underwriting.the 5% historical appreciation, without looking it up, seems fairly accurate for Los Angeles in general but it is not a straight slope.  

Sentiment is paramount.

Market sentiment turned risk-off, with a “short America” tone emerging as investors rotated out of equities into gold and crypto.