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Prices, jobs, and personalities: Here comes the US election
The last few years have not been easy, with high inflation and increased inequality. Yet more Americans have jobs, and the stock market is at a record high. There will be lots of opportunity to pick the bones from the result but for investors the key question is whether robust cash-flows in the US corporate sector can continue to support returns from bonds and equities. At the very least, the balance between expected returns and volatility of returns may shift as the outcome of 5 November vote is digested. Real returns solid The rate of inflation is important in markets. If nominal fixed rate bond yields are 5% and ... (full story)