Equities tend to rally into year end, and particularly in years with US midterm elections. While this could easily be a statistical fluke, we also see fundamental reasons to buy stocks at this point and are now moving positive on the asset class on a tactical basis.
We're currently in a Goldilocks environment - not too hot, not too cold. How long can this last? Structural forces are depressing inflation but cyclical pressures are intensifying. Even if the microwave is less powerful than before, if you keep zapping the porridge for long enough, surely it will eventually overheat?