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-- let's get more on market and stocks.
-- -- -- and he sectors are down snapping back that two day rally for the major market gauges.
Joining us now Brian -- chief investment strategist -- BMO capital markets.
You know Brian I thought your notes are really interesting basically you've said we've seen all the gains we're gonna see for the year in the S&P already up.
Almost 14% year to date however you say.
A year after the election generally -- good years -- Yes that is on average -- typically see a 7% richer for the plus one year after the election.
Unfortunately only see about a three and a half percent return.
In the election year given the fact that as of before today were up 14% clearly enough but not up 14% more right.
That was one of the reason we hear that the market ahead of itself all that great election analysis aside.
I for one very glad that we're past the election knowing kinda get back to business that was relieved whole structure of the note.
From a fundamental perspective near term we had feared that.
The market was a bit ahead of itself our target for the S&P this year's 1425.
The bottom line is that from an asset basis if you look at the United States stock market as an asset.
We believe that it's the strongest and most stable asset of the world period.
And that's why you've seen European asked the European stocks underperform and emerging market stocks underperform.
In YUS stocks of -- -- of the world this year.
But is it because we are the least bad in the room so to speak meaning you know if if Europe and everything else wasn't going not.
And we would -- really horrible.
Well think about this.
Because of the stability and consistency.
We believe that consternation going on in Europe say -- Germany really is slowing down.
Where is that order flow in -- comments gonna come back in the US companies.
In North American companies in particular so were big believers in this whole theme of the manufacturing Renaissance.
Coming back to the US it's not about a weak currency -- about a more stable currency.
And so we think it's a major thing you know help technology companies and industrial companies in particular for the next three to five.
-- is here is your theme reliant on bipartisan support in congress or is it hoping I guess that we just have this brick wall for the next four years.
-- the funny thing is is that I believe -- we believe in our work that.
Politicians are given way too much credit the politicians are we don't get -- that neither had attacked and there's just -- and the very first page in my note.
At a very first page of the note last night was you know politicians benefit.
And they get hurt by the cycle in the cycle clearly.
Has been improving.
Tough to kick out incumbent president of stock stocks are up double digit percentage range.
Tough to kick out incumbent president of GDP has solidified.
Tough to kick out any comment president.
If jobs are starting to slowly come back it's nowhere anything near where the recovery should be.
Based on where we are historically.
But positive as positive and so we think that train has left the station in -- benefit US stocks now with respect to the.
What what but quickly seconds we have to got really -- Ben Bernanke for this re election.
Because because -- Ben Bernanke and is monetary policies in the infusion of liquidity that's why the markets up.
And that's why then you're saying the president was reelected.
Bull market Ben Bernanke can -- in monetary policy -- help for the wealth effect right because stocks are up.
But monetary policy hasn't really done nothing to add jobs or nothing to now agreed to do get.
To get things go like some -- you -- jobs through tax incentives and through pure organic well.
Not by keeping money cheap this is a tax that this is that this of the wealth effect type of situation at the end of the day remember.
We in America vote our pocketbook and our pocketbooks bills all the better with stocks being up fifteen.
I guess I don't maybe that's -- -- enough for yesterday.
Brian about -- thank you so much for being capital markets he cannot -- the president her credit the president.
With the market rally.
Now it's that -- -- -- it's Yankee.
Policy and -- sat which drove people to the riskier assets higher returning equities market and that's why we've seen it's so -- -- administration to take credit for it said Brian's point.
How to raise issue.
What I thought -- I mean I don't have Ben Bernanke when did you party.
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