Economists bullish on global growth

Relatively low real yields were a big support for equity valuations, so a break higher would indicate that stocks will have to rely on earnings not multiple expansion to drive them higher, Sheets and his colleagues wrote.

LONDON: Wall Street economists are sticking with their forecasts for the global economy to enjoy its strongest growth since the start of the decade even as emerging markets wobble and trade wars escalate.

The reason? The US is prospering from President Donald Trump’s tax cuts, while the euro area and Japan are shaking off their soft patches earlier in the year. China is, for now, also managing to mitigate a slowdown through a mix of targeted stimulus.