Rallies of this magnitude (+30% in 5-6 months) are not uncommon; however, this one began one year into a yield-curve-inversion cycle and with stock valuations already elevated. The latter condition could be viewed as a positive because the market surge has created one of the most pronounced short-term wealth effects in history.
Apr
05
2024
A Hugely Productive Rally
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![Doug Ramsey / Chief Investment Officer & Portfolio Manager](https://leuthold.imgix.net/leutholdgroup.com/site_files/authors/DSC_3768_LR_Doug.jpg?h=150&w=150&fit=crop&fp-y=.15)