This is from David Rosenberg:
“A dive into the history books shows that at no time did a bull market end after the first rate hike. Typically, in terms of trough-to-peak moves in the S&P 500, we are only one-third of the way into the bull run on the eve of the first Fed tightening in rates. That is an average, but the median is almost identical and there was never a time when the cycle was more than halfway through at that point of the first rate increase”.
Get used to higher rates.
