The Two-Day Stock Selloff Hurts. It’s Still a Bull Market No Matter Where You Look.

The ability to hold contradictory ideas at the same time would appear to be key to investing in today’s markets.

In the week just past, we witnessed record-high prices in risky assets—including U.S. stocks and corporate bonds, both investment- and speculative-grade. At the same time, havens from risk—gold and long-term Treasury bonds—also registered records.

The…

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