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The birth of the 2023 bull market
Published Wed, Jun 14, 2023 · 05:50 AM
THE bear market that savaged the global economy, credit markets and the banking system is finally dead. From this chaos, a sprightly new stock market is arising. Welcome to the 2023 bull market.
It was the longest-lived bear since the 1940s, and one of the longest in history. The S&P 500 peaked almost 18 months ago, on Dec 31, 2021, shortly after US Federal Reserve chairman Jerome Powell warned he was going to war against inflation.
The Fed’s aggressive policy soon formed one of several lacerating bear claws swooping down on the US stock market. In February 2022, Russia invaded Ukraine in what would quickly become the bloodiest conflict in Europe since World War II.
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