Investors who fear recession will miss out on record market gains, long-time bull Ed Yardeni predicts

The Yardeni Research president suggests investors who fear an economic downturn will miss out on a fresh run to record highs." on Friday. "That should keep the stock market moving higher."

Yardeni, who spent decades on Wall Street running investment strategy for firms including Prudential and Deutsche Bank, believes the stock market volatility over the past week was overdone. He's confident stocks will"This has probably been the most hated bull market of all-time because the next recession has been the most widely anticipated of all-time," he said.

According to a recent Reuters poll, almost half of the respondents believe a recession will hit the U.S. economy in the next 24 months. A majority of them blame headwinds stemming fromEven though Yardeni estimates a trade war deal is more than a year away, he doesn't see it having a dramatic effect on the economy or stocks because the Federal Reserve is open to additional interest rate cuts.

"Usually recessions are caused by credit crunches," he noted. "I don't see a credit crunch out there. So, I think the economy continues to grow, and so do earnings."10-year Treasury yield"To a large extent, that just reflects the gravitational pull of negative bond yields in places like Japan and Germany. I think foreign investors are coming in and snapping up our bonds," he said.

TradingNation Unbelievable this must be the 5th perma bull calling the stock market higher. What is it promotional weekend😂 will the administration stop at nothing to goose a falling market . BRING OUT THE CLOWNS 🤡

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