Why the Final Surge in U.S. Stocks Is Still Ahead - Even as a Major Recession Looms

This is not the phase where markets warn investors - it’s the phase where they persuade them.

1. The Most Persuasive Phase of the Cycle

Financial markets have a habit of behaving in ways that feel reassuring at precisely the wrong moment. Rising prices calm nerves, improving market participation builds confidence, and new all-time highs reinforce the belief that the economy must be strengthening beneath the surface. After all, markets are widely …