No nation is an island. Yet, professional investors are able to find one rationale after another to drive US (mostly) large and mid cap to near record levels. The view that US equities are held in such high esteem despite numerous concerning issues (e.g. valuation, deglobalization, debt, debt to GDP, business uncertainties due to geopolitical impacts) is remarkable.
So, here we go again. And the question asked when last I highlighted this several months ago is the same today: Will global stocks rise to join the party or will US equities succumb to the pressures that other markets have? History says the latter will win out. We shall see.
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