Global capital markets have arrived at a fork in the road. Risk assets across many categories continue to trade at historical premiums. In the case of U.S. stocks, they continue to hover near all-time highs. Yet global central bankers appear to be increasingly coordinating their efforts to rein in liquidity and tighten monetary policy. This leaves investors with a choice as they prepare to move into the second half of 2017 and beyond. But instead of just two choices, a multitude of paths lie before us. On which road should investors travel to avoid regret?
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