GDP contracted by 1% in the first quarter of 2014, nevertheless, the U.S. economy is not at risk of retreating thanks to a roaring stock market and an activist Federal Reserve, says Kevin Mahn, president of Hennion & Walsh Asset Management. Mahn expects a strong second half rally in U.S. stocks, and says European stocks will also show impressive returns by year end. Mahn says the U.S. is in the early stages of a secular bull market, which generally last between 5 and 25 years. Finally, Mahn says worries about a bond market implosion - especially high yield bonds - are overblown.

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