In human years, this bull market may be just a teenager.
According to Federated Investors portfolio manager Steve Chiavarone, the secular bull market is still in its early years. He estimates there’s at least a decade left in it, citing a change in demographics.
“Millennials are entering the workforce, but their wages are going to be under pressure their whole career,” he said on CNBC’s “Trading Nation” on Friday. “They won’t make enough money to pay down their debt, fund their life and fund retirement where there is no pension. So, they’re going to need equities.”
