by Bill Hoover on Oct 16, 2017
Steady as she goes.
Euclid and the markets continued to be optimistic through the 3rd quarter. Valuations remain at the upper end of normal, but so far the economy has grown fast enough to justify, and even upgrade, expectations. The most recent GDP report was actually revised up slightly while crucial factors like inflation and job growth continue to be favorable. Some wage growth along with the new jobs would be welcome, but then that might imply stronger inflation.