What Could Turn Bull to Bear?

Inflation and rising yields could just do it, experts say.

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In a recent story, we saw that, contrary to popular thinking, the present bull market is not the rise of a new 2-year old bull market, but rather the last frantic gasp of an older, 12-year bull run. If so, what lies ahead that could bring it to a stop?

A vigorous post-pandemic recovery is underway, but it is not signalling a new bull market, thinks Craig Basinger, chief investment officer at Richardson Wealth. The pandemic crash and recovery have only been a “pause” inside a larger ongoing bull market that started in 2010. It’s like a beach ball in water, likens Aidan Garrib, head of global macro strategy and research at Pavilion Global Markets. “The coronavirus pandemic pulled the beach ball below the surface, he says, and with the recovery, that ball is shooting up into the air, but in reality, the ball is still in about the same spot where it was before 2020.”

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