ECONOMIST VIEWS: IS THIS A BEAR MARKET RALLY OR A PROPER BULL MARKET RUN?
MAX KING INVESTEC ASSET MANAGEMENT
It has all the hallmarks of a bull market. We bought into the rally back in March and at the time our view was: “It’s going up so who cares whether it’s a bear rally or bull market?” Those people who are betting on a bear market rally may end up regretting it for the next 10 years or so.
MIKE LENHOFF BREWIN DOLPHIN
My view on this for a while has been: “It’s for real”. What’s been going on is a change of sector leadership away from defensives and into cyclical stocks. The market is really tired of the bear market story – it’s saying, “look, our conviction is growing and the efforts of policymakers will work”.
SIMON WARD HENDERSON NEW STAR
I don’t think that it’s a bear market rally – the lows in March will hold. We are probably going to get a pull-back at some point in the summer, but over the next 12 months I think we will be up on where we are now. The market does look a little over-bought at the moment.