S&P 500 Bull Market Brings Back ’50s for BofA Strategist
The current bull market for the Standard & Poor’s 500 Index resembles the advance it’s about to surpass to become the second-longest ever, according to Michael Hartnett, chief investment strategist at Bank of America Corp.’s Merrill Lynch unit. The earlier rally lasted from June 1949 to August 1956 and “slowly exhausted itself,” rather than ending in a bubble as a 1990s rally did, Hartnett wrote Thursday in a report. On April 29, the surge that started in March 2009 will reach 2,608 days, one more than the 1950s-era bull market.