MainStay Market Minute: As Bull Market Turns 7, Will It Soon Be Put Out to Pasture?

NEW YORK - March 11, 2016 - PRLog -- As this week marks the 7^th anniversary of the current bull market in US stocks, effectively becoming the third longest bull market in US history using the S&P 500 index, Poul Kristensen and Charles Reinhard, Managing Directors for New York Life MainStay Investments, discuss the ramifications for the near future.

Historically, the most common end to a bull market is recession.  However, there has been no indication of the current US labor market slowing down, leading many analysts to speculate if the concerns over the economy slipping into a recession are overdone.   The US economy added 242,000 jobs in February, contributing to the steady decline in the unemployment rate, which is now within the range of the prior business cycle.   This has lead Poul and Charles to agree that a recession in the near future is unlikely.

Shortly after the "dot blot", when Fed raised interest rates in December, there was considerable consternation regarding Janet Yellen's announcement that the Fed planned to raise rates 4 times throughout the coming year.  While there is still considerable doubt that the Fed would be able to raise interest rates that many times due to slowed-growth abroad, concerns about financial instability, and a volatile market, optimism has begun to grow. Many analysts now predict that a conservative estimate of at least one more interest rate hike, with a possibility for a second.  The Fed will have a chance to address these estimates when they meet again in mid-March.

To watch this interview and future updates from New York Life MainStay, tune into Asset TV's New York Life MainStay Investments Channel Page:  http://bit.ly/1pdx607


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