At the start of the past four bull markets, the rebound was led by banks and smaller companies.
Photo: Mark Lennihan/Associated PressWe are now more than a year from the bear-market low of October 2022, and while the bull market isn’t exactly raging, stocks are still up more than 20%.
The markets, though, aren’t behaving as they usually do at the start of long-lasting bull markets.
In some respects, the past year looks more like the tail end of one than the beginning.
This makes me worry it may not last.
Persons:
Mark Lennihan