Valuations in EM have not increased at the same pace as developed international or U.S. markets.
It's been a good year for stocks, but has it been too good?
It is hard to make the case that they are much more expensive than the stock market as a whole.
Election years have historically been good for stocks, and this year has been no different.
Corporate earnings, the most important factor in market performance, were poor in developed foreign markets last quarter.
Second quarter earnings season has been okay, but we were hoping for more.
We continue to expect an improving economic backdrop in the second half.
This week we look at some interesting, under-the-radar breakouts in the economy and markets.
We expect modest second half gains to be derived from mid- to high-single-digit earnings growth over the second half.
The earnings recession will likely continue with second quarter results, which will begin to be reported this week.
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