Market Extra: Why a multibillion-dollar fund manager sees another 10% rally for U.S. stock market

Looking for 10% return over the next six months? Look no further than the U.S. stock market.

Yes, the American benchmarks may have consistently set fresh all-time highs over the past weeks, but the rally isn’t over yet, according to Jim McCaughan, CEO of Principal Global Investors, which oversees $424 billion in assets.

“In the U.S., this is the bull market that nobody loves. It has been going on since 2009, but there are a lot of people on the sidelines that have been cautious about it,” he told MarketWatch at the International FundForum conference in Berlin earlier this week.

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