Bull Market Calmly Marches On, Faces Steeper Climb Ahead
The S&P 500 calmly added +3.11% in July, continuing its new bull market run from the lows of last October. With the exception of a few days around the regional bank failures, it’s been a market rally characterized by markedly subdued volatility. For example, the CBOE VIX index, sometimes referred to as Wall Street’s “Fear … Continued