John Authers, Columnist

This Risk-On Rally Rests on Some Risky Foundations

If the reason we needn’t worry about inflation is slowing growth, that’s not great.

May 31, 2022 at 4:00 AM UTC

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

Look out ahead.
Photographer: Christopher Furlong/Getty Images Europe

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As Americans return for a shortened week, it looks like they only missed more of the same. US stocks gained last week, breaking a losing streak, and the enthusiasm has continued. Can this be justified as anything more than a trading bounce of the kind that comes along in all bear markets? There’s a way to do that (just about), but the news flow provides as many new reasons for concern as it does to relax.