US growth companies will be attractive for 'years to come'

The transition to a Trump presidency this month, for all its Sturm und Drang, marks several important and bullish transitions for stockmarket investors. Expectations are high, but these trends could lead to an extended favourable climate for US equity markets.

We expect greater business investment to match a decently healthy consumer. An improved tax policy, including lower corporate tax rates and the ability to repatriate overseas profits efficiently, should make projects and acquisitions more attractive. The second shift is pure defensive investments and yield plays have lost their lustre - and rightfully so. We believe the Fed's decision to increase its benchmark rate in December will continue to prod investors out of bond proxies and into growth stocks.  Dow Jones breaks 20,000 for first time The shift means growth companies with att...