The call for this week: The maelstrom our President has unleashed over immigration, and the seven countries under temporary ban, is yet another reason to honor our models’ cautionary stance in the near-term. Our advice to such celebrities as Madonna is to “Take a Breath,” exhale, and see what happens going forward. Our country is amazingly dynamic and the equity markets are only impacted by such events in the short-term. Longer-term we remain convinced the equity markets are in a secular bull market that has years left to run.

Jeffrey D. Saut is chief investment strategist at Raymond James.

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