American strategist puts the case for US equities

Wednesday 08 October 2014

United States equities continue to be an attractive option for investors according to a US portfolio strategist who recently spoke at events in the both Bailiwicks.

Speaking at Canaccord Genuity Wealth Management client events in Jersey and Guernsey Tony Dwyer discussed his optimistic outlook for investors in US equities.

During his presentations he noted the importance of the Fed’s (Federal Reserve: central bank of the United States) policy for the equity market outlook.
 
“The availability of credit and the steepness of the yield curve is driven by Fed policy, which we believe should be extremely accommodative though the end of 2015. Fed policy is driven by inflation expectations, which should remain historically low, giving the Fed incentive to remain agreeable even on an uptick, which is good news for equity investors,” he said.

Mr Dwyer joined Canaccord Genuity in 2012 as senior Managing Director and US portfolio strategist in the New York office, following Canaccord’s acquisition of Collins Stewart.
 
He currently has the most optimistic 2014 forecast on Wall Street for the US S&P 500 and he is frequently quoted by the financial press and interviewed on CNBC, FOX Business and Bloomberg.  As a strategist, he is best known for the practical application of macroeconomic and tactical market indicators designed to assist clients in making investment decisions.

Nigel Cuming, chief investment officer at Canaccord Genuity Wealth Management in Jersey said: “Tony is a highly regarded strategist on Wall Street and is well known for his expertise on the US markets so it’s fantastic to have someone of his experience to present to our local clients and colleagues on the outlook for the US equity market.”

Trends in interest rates and the outlook for inflation were also reviewed with reference to the high demand for corporate credit.
 
“Demand for high yield debt has allowed for a move back to near historically low spread levels as seen in the 80s, 90s and 00s, suggesting it could stay there for years to come,” he said.