It’s been a great year for stocks. Currently, the S&P 500 is clearing all-time highs.
“The S&P 500 is up an impressive 26.5% year‐to‐date, the eighth best year in the post-war era,” said RBC Capital Market’s Jonathan Golub.
“Not surprisingly, many investors are asking whether this sets us up for some type of pullback,” he continued. “In our view, the answer is a resounding “No.” While these results are excellent, especially in the context of weak economic and earnings growth, they are hardly out of the ordinary.”
While Golub’s thesis is more comprehensive, not everyone will agree with his assessment that this year’s returns are ordinary.
Here’s his chart of calendar year returns for every year since 1947.