Carmignac MD Saint-Georges: Inflection points will be the story of 2018

US stocks have had a chance to finish 2017 in style, as the economic recovery that started two years earlier received an additional boost from the much-publicised breakthrough on tax reforms.

On the back of such developments, analysts are upgrading their earnings estimates for 2018, reassuring investors to bear with the lofty equity valuations. Most importantly, the liquidity induced by the Federal Reserve's past quantitative easing has remained plentiful.  The best way to capture the whole of this golden moment is to have a glimpse at US financial conditions; boosted by record low volatility, historically narrow credit spreads and low interest rates, securities are at their highest level since 2007. T. Rowe Price's Husain: Where now for the US dollar? The issue with...