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Longterm Backdrop Bullish for Stocks; Bonds Not So Much

You have to admire the Standard & Poor’s 500 index’s ability to scale the proverbial “Wall of Worry” in the face of major trade, economic and earnings worries throughout Q2 heading into Q3. I’ve been around for a few bull and bear markets, and if there were ever a market climbing that time-honored cliché, it’s this one.

That said, in the short-term a market pullback would not be surprising given the recent surge has pushed daily trading indicators back into overbought levels. How...

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