Capital Market Line - Move Aside Policy, Fundamentals are the New Sheriff in Town

Michael J. Kelly, CFA
Global Head of Multi-Asset
New York

17 July 2017

Last summer, sparked by the end of private-sector deleveraging, we saw global nominal GDP begin to cast off the wet blanket of the post-crisis, stall-speed regime. Now, a second wet blanket — sluggish business fixed investment — is being lifted as confidence in the economy grows.