Economy
Top Strategist Very Bullish for the Next Year, but Then Look Out After
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Any way you slice it, the rally off the 2009 lows has been stunning. It is similar to the kind of rally we saw during the 1990s in terms of gains and length, but like all good things, it will come to an end. While none of the firms we cover on Wall Street are calling for a crash, as that is typically not good for business, few are hyper-bullish, and with good reason. The long market rally, which was partially fueled by extraordinary low rates, is destined to end at some point, and perhaps sooner rather than later.
A new research report from Stifel’s Bruce Bannister and his outstanding team makes the case that the next year still has some positive tailwinds, but they also feel that starting in the middle of 2018, some strong headwinds could be headed our way. They listed six positives for the next year, and six negatives for the following year.
Here are the positives the Stifel team sees for the rest of 2017 and the first half of 2018.
Here are the negatives that Stifel sees for the period that includes the second half of 2018 and into 2019.
Toss in the fact that the gigantic baby boomer retirement tidal wave has long since started and continues to loom, and many may be selling stocks to move to fixed income or other income vehicles. The good news here is that investors may have a long runway to prepare for the next secular market move, which barring a huge geopolitical meltdown, may be sideways trading for years to level out the years of double-digit gains.
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