It did not take long for the post-election euphoria to wane. Ostensibly created by the expectations for growth-oriented legislative and regulatory shifts, investor enthusiasm was met with the reality that the outlook for investible markets remains a bit muddy. The world is not as safe as it has ever been, equity markets are not as inexpensive as they ever have been and central bank policy, while suggesting stability going forward, still might be cause for disruption. And yet, while the jubilation may not be as widespread, investors do not seem to have turned to dismay. Indeed, first quarter performance proved rather fruitful and there are reasons to be a bit more positive from a fundamental standpoint as we head further into 2017.
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