- After months of political wrangling, a deal has been reached to raise the U.S. debt ceiling.
- Few are happy with the results, and long-term measures to address the debt must still be implemented.
- While a debt-rating downgrade is still a very real possibility, the financial markets have already moved beyond the spectacle of the debate and are reacting to the host of indicators signaling a potential economic slowdown.
- Despite the economic woes, we remain firmly in the camp of those who anticipate continued market advances.
- We view any market pullbacks as opportunities to add to equity exposures using assets currently invested in U.S. Treasuries or investment-grade securities as a source of funding.
Read the Full Report – After the vote