Leadership shifts at the sector and style levels warrant some additional caution, as well as a closer look as to what investors are buying when it comes to "growth vs. value."
There has been a long-term trend toward currency diversification in global financial transactions and trade, but we don't see the U.S. dollar losing its dominance any time soon.
Preferred securities appear attractive for those willing to take higher risk, but more risk-averse investors should consider investment-grade corporate bonds instead.
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