Will “Sell in May” Lead Investors Astray?

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  • Increasingly accommodative central bank policies have inspired an astounding year-to-date reversal in global risk assets.
  • While rising asset prices haven’t had a meaningful impact on the real economy, there are hopeful signs of a potential second-half 2016 rebound.
  • First quarter corporate earnings growth has come in better than expected but is still on track to be negative for the fourth consecutive quarter.
  • Despite the lack of robust global growth, all asset classes are positive year to date, highlighting the importance of global diversification.

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