April 2014 Commentary

Despite April’s continuing trend of mostly weaker U.S. economic data – which may or may not still be attributed to the weather – positive fund flows have kept most global equity indices in the green, not due to investor conviction but as a result of seeing few alternatives to stocks. Investor sentiment readings have become more neutral as investors ponder what pace of economic growth will be required to justify current stock valuations. Clearly the jury is still out…