Bear Market May Take Short Summer Vacation

If this week turns out to be anything like last week for US equities, it'll feel like the bear market is over. Weary investors should relish any such respite -- it won't likely last. Q2 earnings are right around the corner and although you wouldn't know it from analyst estimates, US corporate profits are almost surely headed for a reckoning of some kind. On the inflation front, the Fed wants proof. They may take some solace in falling breakevens and other market-based indicators, but officials