Wall Street’s Nonstop Rally Mints New Class of Hardcore Bulls
- Traders pour billions into risk-on ETFs across asset classes
- Several money managers say rally still has room to run
This article is for subscribers only.
For Wall Street skeptics arguing the good times can’t last, there is plenty of supporting evidence. Equity valuations are stretched, corporate bond spreads are tightening and gold is at a record.
The result has been a rush to hedges — options and other instruments designed to protect gains already in the books.