This month marked the longest bull market on record for the S&P 500 as investors celebrated a strong economy, modest inflation, surging corporate profits, and the announcement of a bilateral trade agreement between Mexico and the US. At the same time, slowing recoveries and political issues in Europe, as well as currency crises and contagion fears in the emerging markets, held global investing sentiment in check. Markets should heed current pricing that implies US outperformance will continue for many years to come.