Why markets keep rising despite a more uncertain world

Despite heightened tensions in the Middle East, political upheaval in the UK, and a lack of meaningful progress in US-China relations, global equity markets have continued to push higher. The primary explanation lies not in improving macroeconomic conditions, but in the strength of corporate earnings, which have consistently exceeded expectations and reinforced investor confidence. President Trump's recent visit to China was widely anticipated as an opportunity to ease several sources of global uncertainty. However, the meeting delivered little in the way of tangible outcomes. Ther...