Michael Wilson: The Bear Market Will End When The Recession Begins

First, it was Wall Street's biggest bear, Michael Hartnett, who predicted that the current bear market ends in October with the S&P tumbling to 3,000 (Note: it is still not Bank of America's base case that the US enters a recession in this year or next. It will be in a few days).

Then it was Goldman, which just like Bank of America, refuses to make a recession its base case for now (it will in a few weeks), yet which pointedly said that in the "hypothetical" recession, the S&P would dump to 3,150.