Fundstrat’s head of research Tom Lee sees the recent stock market pullback as a buying opportunity, dismissing Moody’s US credit rating downgrade as insignificant since bond markets have already priced in the debt concerns. He highlights that Treasury auctions continue to succeed, signaling sustained investor confidence. Lee also notes that many investors who missed April’s recovery are likely to reenter the market, potentially driving a year-end rally. Despite acknowledging the US’s unsustainable debt path, he believes the real warning sign would be a failed bond auction—something not currently happening. His bullish stance is reinforced by the $7 trillion in sidelined cash and institutional skepticism, which could fuel upward momentum.