The outlook for US equities is a highly contested point between market participants today, with even Janet Yellen joining the fray saying: "Forward price-to-earnings ratios for equities have increased to a level well above their median of the past three decades."
We would agree, certainly on a normalised earnings basis - the US stockmarket has only been this expensive twice: 1929 and 1999. The caveat being that equities, as the bulls would suggest, are not that...
Calling for 'imaginative and creative' approach to negotiations
Plans for transitional 'standstill' deal
Concerns over ballooning debt
Janus Henderson recruits Columbia Threadneedle's fixed income head Cielinski amid bond team restructure
Cielinski joining firm on 1 November