LPL Research

“The Beige Book suggests continued moderate economic growth.”

“Treasury yields have seen a significant increase since early September 2017, but credit markets aren’t showing any signs of stress.”

“We expect a solid fourth quarter earnings season and believe a 14–16% year-over-year increase in S&P 500 earnings is achievable.”

“2017 was an excellent year for international equities, particularly EM.”

“Dollar weakness in 2017 helped propel unhedged foreign developed bonds and U.S. dollar-denominated EMD to strong performance.”

“Global economic growth was stronger than expected in 2017, and we  anticipate moderate acceleration in 2018.”

“Data point to a U.S. economy that has picked up some speed.”

“Economic reports released in December 2017, which mostly reflect economic activity in November, largely exceeded economists’ consensus expectations and suggested continued steady growth in the U.S. economy. “

“We look back at U.S. fixed income performance in 2017, while exploring what themes may persist in 2018.”

“We close the book on a solid 2017 for U.S. stocks while tipping our caps to a strong start to 2018.”