Crunch Time

It has been an interesting start to 2017 so far. Fiscal policy dreams have given way to sobering realities. The persistently cautious Federal Reserve finally exhibited initiative and resolve. Economic and profit forecasts were revised lower. Yet performance across asset classes was almost universally positive. This included stocks hitting new all-time highs. But the book on the first quarter has closed and a new quarter is now underway. And the coming quarter has the potential to bring with it greater challenges for the market to overcome.

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