Miton's Ford: Are economic conditions in the US set to decelerate?

After the S&P 500 index's 10% rally from the beginning of May to the end of August in dollar terms, investors have begun to question whether further gains are possible by year end.

Recent developments appear to have transformed the ‘wall of worry' traditionally climbed by stocks into a ‘roadblock' with the break out in 10-year Treasury bond yields above 3.2% a key component. The step up in interest rates has focused minds on the valuation of some of the most highly-rated and popular stocks in the market and caused a mini-rout in technology stocks at the beginning of October. Technical analysts are scrutinising the breaching of trend lines and moving averages: a further sell-off in technology stocks certainly looks plausible.  Tech funds amass record $20bn ...