Asset markets have been buoyed by the potential for progress on a trade deal, while central banks have mostly been dormant in November. Market pricing seems to be reflecting optimism that growth will pick back up. Equity valuations have now risen to levels close to their long-run averages, and higher in the US, while credit spreads remain low. There is the possibility of a ‘phase one’ trade deal to justify this optimism, but there is still a fair amount of risk that the negotiations could fail. The good news is that manufacturing appears to be stabilizing, and continued central bank support should help. Despite the low yields provided by traditional safe haven assets, government bonds can still provide some buffer in portfolios if growth fails to reaccelerate. Meanwhile, investors who need a higher but still relatively defensive income may want to consider global infrastructure investments.
TOP PERFORMING STOCKS OVER THE LAST TWO WEEKS:
1) WESTERN DIGITAL (WDC)
2) CONAGRA BRANDS (CAG)
3) SKYWORKS SOULTIONS (SWKS)
4) MICRON TECHNOLOGY (MU)
5) WYNN RESORTS (WYNN)
TRENDING ON TWITTER
1. CHRISTMAS EVE EVE
3. MARSHAWN LYNCH
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One of the main reasons toy juggernaut, Lego, has thrived for decades is its ability to innovate. But they’ve also had to learn the hard way that the wrong bet on innovation can take a company to the brink of destruction. Check out this edition of one good thing that explores how Lego’s innovation tenets help them remain on the cutting-edge while not losing site of how they got there.
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