Healthy economic growth is providing ongoing support to equities, which have performed well over the past month. Indeed, the vast majority of the rise in the MSCI World Index of developed market equities so far in 2017 has been due to an increase in expectations for earnings, rather than in the price that investors are willing to pay for them. What’s more, expected earnings growth has boosted the MSCI World Index by more so far in 2017 than in any other year since 2010.
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