One year ago, market forecasters were in absolute agreement. A Bloomberg consensus survey showed that 100% of the respondents predicted a global recession in 2023. Rising interest rates would surely create an inevitable “hard landing”. When such agreement exists in the investment world one must ask the obvious question, “What don’t we already know?”.

Since then, fears over hard landings have vanished as the powerful surge in US-led growth has thinned out the recession camp. But less discussed is that economic activity outside America has also firmed, led by a liftoff in global trade.

Does this mean that the bull market in US stocks will also start broadening out? We think so. In fact, investor optimism has created bull markets from New York to Tokyo. Japan, France, Canada, Switzerland, Germany, Taiwan, Netherlands, Denmark, Italy, Brazil, and India are in or near bull market territory touching highs last seen in the Post Covid rally.

So, what don’t we already know?

As the Magnificent 7 continue to grab headlines and push prices and valuations to historical highs, opportunities for a follow through trade are all around us. In this episode Rob and Tyler discuss why a broadening rally is so important and how best to position portfolios to profit from this emerging macro trend.