Geopolitical & Fed rate opens window for risk asset

Here's what we're thinking

July 27, 2016

Global markets remain in a state of alternating phases of optimism and pessimism driven by cross currents created by uncertainties related to Brexit, the global growth outlook, and fluid central bank policy. We remain generally constructive on markets given stable U.S. economic dynamics and a steady stream of policy support from both monetary and increasingly fiscal policymakers. However, the overall magnitude of upside potential is an open question given cycle-high valuation levels.

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