According to a release,
"The new normal is beginning to look like the old normal. We've seen significant growth in 2013 and we're now experiencing a robust economy that we used to think of as normal," Keon said.
"The key to investing is to think one or two moves ahead of the market. Our asset allocation portfolios remain heavily overweight in stocks today, but our research is focused on factors that might cause the next bear market. By preparing for the eventual downturn and evaluating when and why it might happen, we can more confidently harvest the gains while this bull market runs. For now, we think the most likely causes of a new bear, high inflation and/or contractionary monetary policy, are well down the road."
"Monetary policy is moving into a period where Dr. Yellen will be focusing on forward guidance. The economy is getting better. The question that we have is how forward can forward guidance carry us? Perhaps it's more of a stock picker's market than a QE (quantitative easing) cures all market," Krosby said.
"I'm reminded of that old saying, 'When the U.S. sneezed, the rest of the world caught a cold.' This year, we got a strong and unambiguous reminder of that. When the Fed begins to taper, that has clear implications for global markets," Praveen said. "There is deflationary pressure in the Eurozone, so we can expect further easing measures by the ECB.
In the fixed income markets,