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Market Bull Ed Yardeni: Don't Fear The 'Most Hated Bull Market Of All Time'

Market Bull Ed Yardeni: Don't Fear The 'Most Hated Bull Market Of All Time'

The decade-long bull run in U.S. stocks has some investors concerned the end is near and a recession is on the horizon in the next two years. Longtime market bull Edward Yardeni told CNBC there is no reason to be concerned amid an encouraging outlook.

What Happened

Yardeni, a Wall Street veteran and president of Yardeni Research, said during a recent CNBC "Trading Nation" segment that stocks should continue moving higher, as the economic outlook "remains positive."

A trade deal with China is unlikely to be reached in the next 12 months, but the trade war is unlikely to impact the economy, as the Federal Reserve is showing a willingness to cut interest again, Yardeni said. 

Why It's Important

Bears are also pointing to falling U.S. Treasury yields and the 10-year yield hitting multiyear lows at around 1.7%.

This is a reflection of "the gravitational pull" of bond yields hitting negative territory in Germany and Japan, Yardeni said. 

"This has more to do with the weakness overseas than it has to do with an issue in the United States." 

What's Next

The stock market environment could be described as being the "most hated bull market" of all time, because the "next recession has been the most widely anticipated" one of all time, Yardeni said.

Encouragingly, there is no sign of a pending credit crunch, which implies the economy "continues to grow," he said — which will translate to earnings growth.

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Posted-In: CNBC Edward Yardeni Yardeni ResearchMedia Best of Benzinga


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