Monday Macro : A realist take on US equities, plus data globalisation and Japanese low wages

Maybe my take on US corporate earnings is too cynical. Markets looks average in terms of valuation if we assume only a slowdown

Every once in a while, market observers like yours truly have to face facts: what we think should influence investment decision-making maybe just doesn’t really matter in the great scheme of things. I have argued for instance that we UK investors should be relentlessly focused on the benchmark US index, the S&P 500, and that further, we should focus our…