2016 Mid-Year Update on the Road to Normal

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  • A stealth bull market has frustrated the Bears as both stocks and bonds relentlessly rise in price in unison sending bond yields to historic lows
  • Britain, true to its motto, “Keep Calm and Carry On” has removed a lot of uncertainty as Theresa May takes the mantle of Prime Minister
  • Global Central Banks expected to ratchet up monetary accommodation
  • Despite the headwinds from negative corporate earnings the consumer remains resilient

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