Taking tally of the global rally

2018 Outlook: International stocks turn a corner, but what do the fundamentals tell us?

Time to read: 3 min

As we look ahead to 2018, it’s important to first recognize how significant 2017 has been for international markets. This is the eighth year of a global bull market, but prior to 2017, international markets had trailed the US for four consecutive years — and for six of the last seven years.1

2017 has been the first year since 2010 of global synchronized earnings growth, and expectations are for this to continue in 2018. We’ve also seen a broad-based acceleration in global gross domestic product (GDP) growth, with stronger growth in the US, European Union, Japan, Asia and Latin America. In fact, for the first time since 2007,

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Could tax reform boost value stocks?

2018 outlook: A drop in the corporate tax rate could help create jobs and grow wages

Time to read: 2 min

As 2017 nears its end, US value stocks are mired in their longest stretch of underperformance versus growth stocks since the Great Depression, held back by low interest rates and easy monetary policy. In my view, the top issue that will help determine whether that trend continues or abates is US tax reform.

In late September, Republicans unveiled their proposal, which addressed the repatriation tax, household taxation and corporate taxation.

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