I joined CNBC for a quick chat Sunday night:
After a initial surge following the election, stocks have traded mostly sideways for the past month. But by most measures, including market breadth, this is a healthy bull market. Valuations are stretched, to be sure. And that will likely keep a lid on stock returns over the next 5 – 10 years. But for the time being, this is a healthy market and, frankly, with bond yields still extremely low by historical standards, there simply aren’t a lot of other places for money to go these days.
So while the initial market love affair with Donald Trump might be over, this bull market likely has higher to go.