Everything But the Kitchen Sink, Infrastructure Spending and is Tech Really That Expensive?
Brent Ciliano
CFA | SVP, Chief Investment Officer
1 Everything but the kitchen sink—is fiscal stimulus #5 on the way?
Discussions about a possible new infrastructure package has reignited investor interest in what is happening on the next round of stimulus.
2 Infrastructure spending—will it really happen this time?
Bloomberg is reporting the Trump Administration is pushing for infrastructure spending. We'll discuss a few key points.
3 Are the FAAMGs/tech really expensive? What about the S&P 500 or Euro Stoxx 600? Are they expensive too?
How often do high-flying tech stocks get mentioned in financial press? It seems like I see something written on them almost every day! So much is said about their meteoric rise in price, their large and growing weights present in market indexes, the extent which growth stocks have been trouncing value stocks, and most recently, "These stocks are expensive." But are they?
4 Positive US economic momentum—but will it have legs?
The economic bounce looks durable at this point, and record-strong growth numbers are following record-weak readings. There’s likely more to go, but this re-acceleration in economic activity needs to be put into perspective.
5 TINA’s looking more like a secular story—will she continue to support risk assets?
Investors still, and likely will always, demand a reasonable real return on their investments. With global cash and fixed income around the world yielding virtually zero to negative real returns, that desire for a positive real return will likely continue to support stocks and other risk assets.
