Jeremy Siegel Sees a Bull Market Continuation

By on January 10, 2019

Jeremy Siegel - WhartonJeremy Siegel predicted a bullish 2019 for stocks on CNBC yesterday.

Siegel said the Christmas eve market bottom would be the ultimate low of this “reaction.”

Siegel added that the game changer was the drop in 10-year rates below 2.75%, which no one predicted. He said stocks were priced at reasonable PEs.

Siegel said the Fed rate hike in December was a mistake, but not a “deadly mistake.” He added that long-term rates were more important to investors as they are more more similar to stocks as long term assets, than treasury bills.

Siegel explained that the economy might be slowing similar to early 2016 or “a pause that refreshes,” but the labor report last week was a “blockbuster.”

A year ago, Siegel said the tax cuts, reductions in regulation and an increased economic growth rate would likely to lead to a continuation of the rally [link].

I think we’ve seen stock market bottom, says UPenn’s Jeremy Siegel from CNBC.

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