Good report here from CS Wealth.
No surprise to hear some participants calling the bottom in 2009 the start of a new secular bull market for equities!
When more participants start making this call it will certainly be a good contrarian indicator.
Its a consensus view with calls for more compression on high yield, out performance Europe and strengthening economic fundamentals and growth in corporate earnings.
The evidence is wafer thin, fundamentally & earnings wise. Allocators are buying a lot of good will at this moment in time though market timing wise, year end window dressing will assist greatly!
Here the report
Rich