Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today
Already have an account? log in
Bulls, Bears, Booms And Bonds
As a reminder no one needs, last year marked just the fifth time in a century and a half (i.e., in 150 years) that US equities posted a second consecutive annual gain of 20% or more.
The other four episodes were 1927/28, 1935/36, 1954/55 and 1995/96, with the latter generally seen as the best analogue for today. Think: successful Fed soft landing, a new tech epoch and (pipe?) dreams of a productivity renaissance.
In the first 2025 edition of his popular weekly "Flow Show" series, BofA's Michae
