October signifies the fourth anniversary of the global bull market, a phase during which UBS asserts that the future trajectory remains positive.
“Over the past four years, global stock markets have reached one record high after another because corporate earnings are growing faster than most analysts expected. What many initially interpreted as a short-term recovery has proved to be a structural upswing with global reach,” Burkhard Varnholt wrote Friday.
“We therefore see the real story of this bull market as less about prices and more about an economic revival,” Varnholt added.
