SocGen's Alain Bokobza argues US equities can thrive even if the Federal Reserve delays rate cuts. He notes the market's current resilience is not solely dependent on monetary policy easing. This view challenges the common belief that stocks need lower borrowing costs to keep rising, suggesting underlying economic strength is enough to support gains.

This perspective arrives as investors parse every Fed signal for clues on the timing of policy shifts. The central bank has held rates high to combat inflation, creating pressure on asset prices. Bokobza's take implies a shift in market drivers, where corporate earnings and economic data could outweigh the influence of central bank decisions.

Bokobza maintains a positive outlook on US stocks, suggesting a focus on fundamentals over Fed-watching. He also touched on European markets, indicating a preference for the US over Europe. The key question for investors is whether this resilience can hold if rate cuts are pushed further into the future. Watching upcoming economic releases will be critical.