Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Chief Investment Officer
Summary: We see small signs of top being established: the two driving forces - lower real rates and the expansion of Fed's balance sheet - are both having engine failures.
Contradictions do not exist. Whenever you think you are facing a contradiction, check your premises. You will find that one of them is wrong.
Ayn Rand