Beside a sharp but relatively short correction early this year, global equities seem to be unaffected by rising interest rates on the short and on the long end as well as balance sheet reduction by the Fed.
Remember, the current bull market is one of the longest on record and also the economic expansion in the U.S. has become the second longest since 1850 according to the National Bureau of Economic Research. Has the bull market reached its final stage? On the following pages, we will try to find answers and will provide you with our roadmap for the second half of 2018 and beyond.
