US Has The Most Overvalued Equity Market: Rothschild

Even though economic growth was weak last quarter (and negative in the US), Rothschild Wealth Management is bullish on global economic growth and believes that developed economies should continue to expand and emerging markets stabilize through the rest of the year as capital spending picks up speed. Even though it calls equity valuations ‘stretched’, especially in the US, it still believes that equities are the most attractive asset class available. “Notably, in developed markets capacity utilization is high, the current stock of capital is aging, and leading indicators of capital expenditure are pointing upwards,” writes Dirk Wiedmann, chief investment officer…