Today it seemed like the market was just following the China headlines, but it meant more to us. The S&P 500 (SPX) was up 1.30% bringing it within an arms reach of it’s all-time peak, but this peak is different than it was a couple months back. This peak gets the benefit of even less expensive borrowing along with still-okay credit strength and no signs of real stress. You can expect to see volatility and headlines moving the market in the short-term, but we will continue to reiterate our bullish thesis.
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