Flash Report November 2017

Pro-growth fiscal reform was the dominant investment theme in November as the Republican-led tax bill moved to the Senate floor. In response, optimistic investors reset expectations and equity indices surged to new highs. Data showing US growth hitting 3.3% on top of increased business investment also encouraged investors. Strong economic momentum and few private sector excesses make near term prospects attractive; nonetheless, thoughtful investors are watching debt and non-debt obligations and geopolitical instabilities, cognizant that central bankers’ decisions about the size and pacing of tightening can tip today’s positive balance quickly from growth and profits to recession and bear markets.

Download the flash report (PDF) here.

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