Rod Smyth, chief investment strategist for Wachovia Securities, told CNBC’s “Morning Call” that he believes only a recession will end the current bull market.
“I think it’s all about when this economic cycle finally gives back and investors start to smell or sense a recession,” Smyth said Monday.” I think that’s going to be the moment when the bull market comes to an end … If we’re in a mid-cycle slowdown that allows inflation to come back down, I would go so far as to say the end of the bull market could be years away. But we won’t know that for a while. I think the important thing is that the primary trend is up. I think the market is going to grind its way higher.”