As the U.S. economy enters its 10th-consecutive year of growth, significantly it has been joined by an increasingly synchronized expansion of the major world economies. Though asset prices across-the-board are elevated at this stage of the economic cycle, we believe that in 2018 equity investors stand to benefit from further economic expansion and lower corporate tax rates that together could result in another year of double-digit earnings growth.
Eight years into a bull market, and U.S. stocks have pulled off a command performance in 2016. Brexit and a Republican sweep of the fall elections were outcomes that few anticipated, and ones that failed to produce the investment outcomes that many predicted. As the political landscape changed,
An unusually “quiet” August spawned new highs for U.S. stocks, but recent softness in economic data amid a contentious election season has given investors pause. Fundamentally, earnings have declined for five straight
Great Britain threw investors a curve ball with its vote to exit the 28-nation European Union. Leading up to the vote, equities and commodities strengthened in anticipation of just the opposite outcome, so the reaction in asset prices after the vote was predictable —stocks and commodities fell while bonds and gold rose.