Business NEWS

    News that matters

    Wells Fargo Says Bear Market Over, but No Bull Market in Sight


    Wells Fargo Predicts End of Bear Market, But No Bull Market in Sight

    Wells Fargo analysts have declared that the bear market in US stocks is over, but don’t expect to see a bull market anytime soon. According to Christopher Harvey, the head of equity strategy at Wells Fargo, the recent pullback in the yield of investment-grade corporate bonds is “inconsistent” with an extended bear market in the important S&P 500 stock index.[0]

    Harvey has maintained an end-of-year target for the S&P 500 of 4,200 points – a mere 2.7% rise from the 4,090 level at Monday’s closing bell.[1] This suggests that Harvey is not overly bullish on stocks for this year, although he believes the worst to be over.[2]

    The Wells Fargo research note also stated that “bear markets often end when we see sharp tightenings and healthy issuance similar to what we have experienced over the last several months. When bear markets go ‘next level’ spreads widen, not tighten, as they have today.”[1]

    Overall, Wells Fargo analysts suggest that the bear market is over, but it is not the great reflation. They state that “we see neither a bull nor a bear market, just a market.

    0. “Bear Market Is Over in Stocks, Wells Fargo's Chris Harvey Says” Bloomberg, 13 Feb. 2023,

    1. “Stock market crash is over but the bull is ‘stuck in traffic', Wells Fargo says” Markets Insider, 14 Feb. 2023,

    2. “Wells Fargo's Top Analyst Predicts End of Stocks Bear Market – What Does This Mean for Cryptos?” Cryptonews, 14 Feb. 2023,

    Leave a Comment

    This div height required for enabling the sticky sidebar