S&P 500

Markets driven by sentiment rather than fundamentals

Despite remaining expensive

How long can performance last?

Entering 2017, we expected a stockmarket 'melt-up' to the 2,550-2,600 level on the S&P 500 - a move we thought might run into trouble by late summer.

Follows previous criticism

Buoyed by Trump's tax promises

Investors unwilling to reduce exposure

Gold slumps and treasury yields soar

7IM's Peter Sleep comments on developments

'Big five' tech stocks hit recently