AllianceBernstein's Sheridan: We're predicting four rate hikes in the US this year

Rising inflation a risk

The global economy appears robust, but investors should not be complacent.

In many asset classes, valuations are no longer cheap, and there is no shortage of uncertainty - most recently from the headlines around trade tensions or rising geopolitical risk. And while inflation in the developed world has been benign so far, it could pick up faster than the market anticipates.  The US is a case in point. With President Donald Trump's tax cuts taking effect and the new budget deal announced earlier this year, fiscal stimulus is being added to an economy that is already at full speed. If inflation accelerates, the Federal Reserve may be forced to raise interest...