Is it a bear? Is it a correction? No, it’s a markets mystery!
Respondents to a recent Citigroup Inc. survey appeared divided over the state of the stock market sell-off, with 57 percent labeling the latest fall in equities as a transitory blip, and the remaining 43 percent saying it was the start of a bear market.
The Citi strategists themselves stand in the correction camp. They draw attention to their so-called “bear market checklist,” on which only five of 18 factors that potentially herald the start of a sustained fall in stocks are currently flashing warning signals.