Bull Market Will Last Rest of Decade, Bartels Says

Watch on YouTube ↗  |  August 03, 2026 at 14:57  |  4:17  |  Bloomberg Markets
Speakers
Mary Ann Bartels — Chief Investment Strategist, Sanctuary Wealth

Summary

Mary Ann Bartels, Sanctuary Wealth chief investment strategist, sees a secular bull market lasting to 2030 led by tech and semiconductors, supported by strong earnings. She expects further yen depreciation as intervention won't reverse the trend. International markets ex-China are entering a new secular cycle, and a new cycle is emerging in financials, energy, and small caps.

  • U.S. equities in a secular bull market to 2029-2030, led by tech and semiconductors.
  • S&P 500 is oversold and showing signs of a rally.
  • Technology and semiconductors are oversold and approaching a bottom for a rally.
  • Japanese yen expected to weaken further; intervention only slows the pace.
  • International markets ex-China (Europe, Asia, EM ex-China) starting a new secular trend.
  • Emerging cycle in financials (banks), energy, commodities, metals, and small caps.
  • Strong corporate earnings support the bullish equity outlook.
  • Yen depreciation supports Japan's export competitiveness.
Ideas
Mary Ann Bartels Chief Investment Strategist, Sanctuary Wealth 1:01
Yen to depreciate further.
Japanese yen is not at its long-term low; interventions only slow depreciation pace, not the trend; Japan benefits from a weaker yen for exports, expecting further depreciation.
FXY MED
Mary Ann Bartels Chief Investment Strategist, Sanctuary Wealth 1:34
Tech and semis lead bull market.
Technology and semiconductors are the leaders of the secular bull market; semiconductors are oversold and nearing a bottom, poised for a rally.
SMH XLK HIGH
Mary Ann Bartels Chief Investment Strategist, Sanctuary Wealth 2:55
Secular bull market to 2030.
Secular bull market in U.S. equities will last until the end of the decade (2029-2030), driven by strong earnings, with the S&P 500 oversold and ready to rally.
SPY HIGH
Mary Ann Bartels Chief Investment Strategist, Sanctuary Wealth 3:13
New cycle in financials and energy.
A new cycle is already emerging in financials (especially banks), energy, commodities, metals, and small caps, which will take over after the tech cycle peaks.
XLE DBC XME IWM XLF MED
Mary Ann Bartels Chief Investment Strategist, Sanctuary Wealth 3:32
International markets ex-China in new cycle.
International markets ex-China (Europe, Asia, emerging markets ex-China) have entered a new secular trend, driven by AI exports in Japan, defense spending in Europe, and positive earnings revisions.
VGK EMXC AAXJ MED
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This Bloomberg Markets video, published August 03, 2026, features Mary Ann Bartels discussing FXY, SMH, XLK, SPY, XLE, DBC, XME, IWM, XLF, VGK, EMXC, AAXJ. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mary Ann Bartels  · Tickers: FXY, SMH, XLK, SPY, XLE, DBC, XME, IWM, XLF, VGK, EMXC, AAXJ