Omega Advisors Chair and CEO Leon Cooperman told FOX Business Network’s Neil Cavuto that he doesn’t expect a bear market anytime soon – and he sees no signs that the U.S. is headed for a recession.
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“We don’t see any signs of recession,” Cooperman said. “Employment is rising by over 200,000 a month, initial claims for unemployment benefits are running like 270,000 a month, which is a low level.”
He added, “Inventories are reasonable, the yield curve is positively sloped, the leading indicators are expanding… Europe is showing some green shoots.”
The hedge fund manager also told Cavuto he believes that there are multiple reasons why bear markets come about, but he doesn’t see any such conditions present in the current environment.
“The banking system today is much stronger than it was in 2008,” he said.