Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Chief Investment Strategist
Summary: The US President yesterday took credit for the 50% stock market rally in the NASDAQ Composite Index since his election. This is a stunning act of hubris given that almost everything is out of his hands and that it is squarely the Fed’s U-turn on January 4 that has sparked the current sentiment rally.
S&P 500 continuous future (five year weekly prices):