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The U.S. stock market hit new highs last week continuing to climb on a on a wall of worry while most other markets including China declined. It remains clear that both the U.S. and Chinese economies have accelerated while the economies of Europe and Japan remain stuck in the mud, in desperate need of reforms and trade deals.
We continue to be surprised that the pundits/experts believe that our market is fully valued selling at less than 17 times prospective earnings when the 10-year treasury is yielding 2.5% and bank capital/liquidity ratios are at new