The backdrop for the US equity market remains favourable. Inflation appears to be under control and ...
The backdrop for the US equity market remains favourable. Inflation appears to be under control and the Fed looks to be on hold. Corporate profit growth is strong and the overall health of the economy is good. Valuations, despite much discussion to the contrary, are reasonable for the majority of the market. Our main concern in the macro environment is the possibility productivity growth slows with the economy, while wage growth strengthens. The Fed would be forced to hike rates, possibly forcing the economy into recession. While we do not think this is probable, there is a reasonable ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes