With the arrival of Spring, Bull is convinced that the time has arrived for investors to be back wholeheartedly in the market.
However, Bear is in a sombre mood. He is concerned that the Iranian war will be a significant set-back to the recovery of the capital markets.
Higher oil and gas prices, and general inflation, which will be driven by supply chain disruptions, are likely to deter any Bank of England interest rate cuts in the near-term.
And … the prospects of the property sector’s principal benchmark (10-year gilt yields) falling are now looking very much less likely.
Bull is undeterred.