Renewed Concerns About Global Growth Combined With Lacklustre Earnings Season Deflating Near-Term Outlook

Portfolio Advisory Group

May 5, 2016

Marginally better economic data over the past several weeks fostered a return of risk appetite that once again pushed valuation toward the high end of the historical range. However, with recent economic indicators failing to build on earlier momentum and a disappointing earnings season to date, we expect investor sentiment to wane in the near-term. When compounded with Fed rate uncertainty, a seasonally weak period, relatively high valuation, and geopolitical obstacles, we think investors should approach the coming months with increased caution…

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