Capital markets expert Ed Yardeni views the recent dips in stock and bond prices not as cause for alarm, but rather as buying opportunities, insisting that the bull market remains intact.
The sharp rise in yields on 30-year US government bonds to 5.3 percent-a level not seen since 2007-has unnerved investors, but Yardeni considers this trend normal. He argues that yields had been artificially depressed for too long, primarily due to the prolonged zero-interest-rate policy employed by the US Federal Reserve. Furthermore, he anticipates that the yield on 10-year US bonds will likely remain between four and five percent.
The strategist recently revised his price target for the S&P 500 to 8,400 points by the end of the year, and forecasts that the index could climb to 10,000 points by the close of 2029, up from its current level of around 7,700 points. Regarding gold, Yardeni maintains a target of $10,000 per troy ounce by the end of the decade (with the price currently standing at $4,500).
