How Long Can the U.S. Bull Market Last?

The U.S. economy is currently in the tenth year of its expansion and investors and policymakers alike are wondering what will trigger the next recession. Despite the U.S. stock market is overvalued with a highly leveraged corporate sector and the waning impact of a fiscal stimulus, the real economy (unemployment, wages, and consumer demand) has remained upbeat and there’s little evidence that the impact of the trade war is affecting consumer sentiment significantly and affecting companies’ hiring decision. U.S. stock markets realign with fundamentals The pro-cyclical fiscal stimulus pushed growth, employment and U.S. stock markets higher in 2018. The economy…...