Equities at Historic Calm: S&P Bull Market Year 5, VIX at 14.8
The S&P 500 bull market enters its 5th year at +118% from Oct 2022 lows, with 52 consecutive sessions without a 1% decline — the longest stretch since July 2024. Fed's Hammack says the economy is 'thriving' but more tightening may be needed.
What we know
An account on X noted the S&P 500 is now +118% from its October 2022 low, the 3rd-largest bull market gain at a 4th anniversary. Another account on X flagged 52 sessions without a 1% decline — tied for the longest since July 2024. The VIX sits at 14.8 with implied vols declining across all asset classes. However, another account on X warns this masks a 'stock picker's rally' where 45% of the index is now negative beta — unprecedented. Fed's Hammack says contacts sound like 'the economy is thriving' but signals more tightening may be required.
How the story developed
The S&P 500 bull market enters its 5th year at +118% from Oct 2022 lows, with 52 consecutive sessions without a 1% decline — the longest stretch since July 2024. Fed's Hammack says the economy is 'thriving' but more tightening may be needed.
Cleveland Fed President Hammack delivered a series of hawkish remarks, flagging early warning signs of inflation expectations problems, noting low-income workers are now 'juggling what bills to pay,' and framing the question as 'how fast to make policy more restrictive'—not whether.
Cleveland Fed President Beth Hammack said current monetary policy is not restrictive enough and called for further rate increases to bring inflation to 2%, while Kobeissi Letter data shows 45% of major central banks have raised rates in the past 6 months — approaching 2018 peak levels.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.