Markets are at a much needed crossroads of macro headlines on trade, political alliances, and economic data that may or may not be softening, and the bottom up dynamics of the 2Q earnings season.
Earnings hopefully bring the requisite attention on a strong corporate environment across many sectors. Ultimately however as investors we must all decide what has been priced in, and what is the multiple we should be paying for companies who are somewhere late in the economic cycle and with a Fed that is still intent on removing accommodation.
As asset allocator s we are making short and longer term assessments of where we see value and opportunity. The dislocations in emerging and foreign markets are compelling places to be both tactical and have longer term capital allocated. On todays call we discuss the set up for markets and we continue to believe the mighty Dollar will not stampede through the fragile field of higher risk markets.