Bruno J. Navarro
Feb 22, 2013
The stock market has “peaked out” and bonds may be on their way to a rebound, Marc Faber, publisher of the Gloom, Boom & Doom Report, said Thursday on CNBC.
“I think we have made an intermediate top, and it could be a longer-term top,” he said on “Fast Money.”
“I don’t think the market is as overbought as it was in ’87, so I don’t expect a crash. But I think for the time being, the market has peaked out, and I think in the meantime, bonds, which are extremely oversold, could rebound,” he said.
The S&P 500 closed at 1,502.52 Thursday. A level of 1,530 could prove to be a longer-term high, Faber said.
This article was posted: Friday, February 22, 2013 at 6:55 am