The Great Rotation​
In our most recent Capital Markets: Observations and Insights, Alger Client Investment Strategist Brad Neuman explains the firm’s thoughts on the divergence between stock prices and fundamentals, the Great Rotation from bonds to equities, and why we believe business spending will outpace consumer spending.
Part I - Divergence
In Part I, Brad discusses the divergence between stock prices and fundamentals, which may be setting up some areas of the market as “coiled springs,” in our opinion. 
 
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Part II - Bonds Yield to Equities
In Part II, Brad outlines why we believe the tide is turning more definitively in favor of stocks vs. bonds.​
 


Part III - Fiscal Policy Impact
In Part III​, Brad details the firm’s short, medium and long-term expectations for U.S. fiscal policy changes.
 
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