This Is Bear Market 2.5 of my Career

Jon Blogosphere, Economy, Fiscal Policies, Market Commentary

This is bear market 2.5 of my career. The half-bear is for the quick one in 1998 during the Asian crisis. It wasn’t the end of the US business cycle but if the Fed hadn’t dropped rates in a hurry back then, it would have been.
Today, we’re still in a ‘bounce’ within an ongoing bear market, and as one market pundit put it, ‘It’s the bounce that never ends.’
In reality though, bounces can have some serious staying power and produce excitable rallies that convince most the worst is over when it’s just about to get worse.

This post was published at Wolf Street on March 5, 2016.