Special Report: Mind the (Trump) Gap

Global Portfolio Advisory Group

February 8, 2017

Markets have rallied strongly in recent months due to two primary factors – improving economic prospects and the election of Donald Trump. Given the very high correlation between the Economic Surprise Index and the S&P500 equity index (83%) over the past year , it’s clear much of the gains in markets have been due to improved economic fundamental conditions. However, the remaining portion of recent market gains that have been based on optimism tied to certain portions of the new President’s policy agenda could be at risk of disappointment in coming months.

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