With Brian Jacobsen, Chief Portfolio Strategist; John Manley, Chief Equity Strategist; and
James Kochan, Chief Fixed-Income Strategist
More than four years into a stock market rally, our chief market strategists ask,
“Can it last?”
Except for China and some other emerging economies, we think the world will see accelerating growth in 2014—likely in a context of low inflation.
We believe that most, if not all, of the factors that were in place to drive the market higher a year ago are still in place and, in our opinion, should remain so over the next 12 months.
Because we believe it is still too early in this investment cycle to employ defensive strategies, income—not safety—should, in our opinion, remain the primary investment objective in the year ahead.