KEY TAKEAWAYS Last week, the 10-year Treasury yield fell below the 3-month yield for the first time since 2007. Long-term yields have been suppressed by the Fed’s patient stance and international demand. We expect solid fundamentals to push the 10-year yield back...
COMPASS CHANGES No changes. INVESTMENT TAKEAWAYS Expectations for solid but slower growth in the U.S. economy and corporate profits support our year-end 2019 fair value target for the S&P 500 of 3000.* We maintain our slight preference for value due to attractive...
