John Authers, Columnist

Hate to Suggest Partying Like It's 1999, But...

At the risk of overstating, the similarities are getting too big to ignore.

April 28, 2026 at 4:05 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.”

Party’s on: IPO at the Nasdaq MarketSite last Friday. — Party’s on: IPO at the Nasdaq MarketSite last Friday.
Photographer: Michael Nagle/Bloomberg

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Is the stock market right to “look past” the conflict in Iran? It’s a popular question with Brent crude back to $108 per barrel, and there’s ample reason to fear that the dangers of the blockade of the Strait of Hormuz have been understated. But there’s an equal and opposite question: Would the market be right to look past a growth in corporate earnings that is beginning to look historic?