The metaphorical closing bell

Ever-lower bond yields are in the rearview mirror

clock • 4 min read
The metaphorical closing bell

Nobody rings a bell to signal a peak in the market or change in leadership. Instead, such shifts in long-term trends are often only obvious in hindsight, possibly months later.

I recall in the summer of 2000, long after the Nasdaq index had peaked in March. Earlier that year, the majority of investors still expected technology stocks to move up to new highs - the proceeding sideways...

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