Some interesting thoughts via Bloomberg:
“It took 14 weeks to fall, 17 weeks to recover, and if you managed never to sell during the U.S. stock market’s biggest tantrum in six years, you’ve just been made whole.
Seven months after it all began, the S&P 500 has completed one of the fastest round trips in market history. The benchmark gauge rose 0.8 percent during Tuesday’s session to 2,931.41, surpassing its previous Sept. 20 closing high of 2,930.75.”
We seem to have triangulated a sweet spot between wage gains, earnings growth and inflation. And as my pal Nir Kaissar explains, there is no reason to think this expansion cannot continue for a while longer . . .