Investment Strategy Network, an investment tool designed to assist in the decision-making process for investors
Steve’s U.S. View
We started the month with markets above fair value by a moderately high, but reasonable level. MidCap and SmallCap were slightly elevated in the teens, but they were not unreasonable. With investor expectations on the positive side, above 100.0% Fv, major events such as a change in central bank policy and the thought of a global trade slowdown pushed markets lower. The direction was unwanted, but rational.