Capital Markets: Observations & Insights
Performance
Bull Market Is Aging Well
• Bull markets have been getting longer over time
‒ Factors prolonging economic expansions include: increased fiscal and monetary intervention, structural changes in the economy, and technological advances, such as improved inventory management
‒ The current bull market is three-and-a-quarter years younger than the ‘90s bull market
14
2010-Current Average: ?? Years
12
1980-2010 Average: 7.2 Years
10
1950-1980 Average: 4.3 Years
Current Bull Market (ongoing)
8
1930-1950 Average: 1.7 Years
6
4
2
Duration of Bull Market (Years)
0
1932
1943
1954
1965
1976
1987
1998
2009
2020
Year that Bull Market Ended
Source: FactSet and Goldman Sachs as of 3/31/18. Bull markets over six months in duration since 1930. Line is based on linear regression of displayed data points.
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