Premium – From the FT: RIP bear market? Bulls v Bears – the argument both ways…
A memorable line from Charles Savage during our interview last month was that he was sick of the Bear market – and decided it was time to believe the recent uptick heralded the beginning of a new Bull trend. Pity I never followed his leanings.
Since that interview, share prices globally have been running. They have now fulfilled the classical definition that after a 20% upward swing we're into a new Bull Market. In other words, the cycle tells us the direction for US share prices from here is higher – and what Wall Street does, the rest of the world follows.
It's no slam dunk, though. As the piece from our partners at the FT points out, there are strong arguments both ways – Bank of America's team leading the Bulls; Citi the Bears. Which is as it should be. Diverse opinions are what makes markets.
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