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This stock market magic can't last

The average daily trading range of the S&P 500 has been 0.55 per cent this year. A correction is overdue.

The bull market's longevity has been fuelled largely by the Fed's ultra-low interest rates and voracious bond buying. The upward trend in stocks ranks as the second longest since 1900.

SOME things just can't last. The nearly magical stock market that has persisted so valiantly this year is one of them.

The bull market that started in March 2009 seems to have gone on forever, but that's only a small part of the story. What is astonishing is the way stocks have risen in...

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