US Markets Are Exceptional, But Not the Way You Think
All is well in the world of US equities. Or so it seems. The S&P 500 is up 20% from its lows. The worst is behind us on trade and tariffs, inflation is supposedly down, earnings are up and the most forecast recession ever still hasn't turned up.
Sure, valuations are still high (21 times forward earnings against a 30-year average of 17), but that's been the case for a long time and hasn't exactly put off investors. The fundamentals are just fine. Watch out for a melt up says strategist Ed Yardeni. Expect the market to go up 9% over the next year says Goldman Sachs.
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