Y2K fashion is back in a big way: Wide-leg denim, velour tracksuits, butterfly hair clips…and a massive tech wreck?
That said, bulls would argue that’s where the similarities end. The economy appears to be on the cusp of nailing a soft landing, the Fed—eager to secure this coup—will pull back if growth appears to falter, and there’s plenty of fodder to support stocks, given the expected productivity and profit gains from new technological breakthroughs in artificial intelligence and machine learning.
Newsletter Sign-up Others have argued that bonds look attractive as well, even if stocks appear likely to outperform long term. “Overall, we expect total returns of 10%-15% for both high-grade and investment-grade bonds over the next six to 12 months, and bonds are our most preferred asset class,” noted UBS chief investment officer of Global Wealth Management Mark Haefele earlier this month.
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