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Cheap Stocks, 2% Bonds and Modest Earnings Built Record Bull Run

  • ‘Favorable environment still in place’, says one money manager
  • Market’s ally gets stronger with corporate buybacks surging
Bloomberg business news
Bull Market Has Yet to Be Tested by Higher Real Rates, Says Sheets

In hindsight, it all made sense.

Though born at the depths of a crisis, rarely has a bull market had better support than this one, which just became the longest ever recorded by some definitions. Tame valuations, little competition and earnings growth that looked spectacular but rarely got above the historical trend -- these were the forces that sent the S&P 500 up 320 percent over 3,453 days.