August 23, 2016 - Major stock indexes touched new all-time highs last week and we continue to see favorable market indicators for stocks. Corporate credit spreads are tightening, commodities are rallying, emerging markets are outperforming, and the dollar remains stable. Global fundamentals are also looking favorable for further gains. Global retail sales, industrial production, purchasing manager surveys, and other leading indicators of global economic activity are showing improvement. Corporate profits have reached a positive inflection point, inflation remains low and central banks are providing enormous amounts of liquidity. The impact of Brexit also appears minimal so far.
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