The market is running out of excuses to stay bullish

This is starting to feel like a market on borrowed time, says John Stepek. Be careful out there.

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Let's be careful out there
(Image credit: 2017 Getty Images)

Markets had a bit of a trip this week. US president Donald Trump has been given the benefit of the doubt so far. Investors are less convinced that he'll be able to cut taxes the way he wanted to, but they're still hopeful.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.