Earnings growth may justify high valuations as business optimism surges
CAPE extremes signal risk but easing policy could extend equity rally
Trump policies support stocks but high valuations and yields pose risks
Deficit cuts risk downturn, suggesting fiscal dominance will persist
Rising US bond yields could challenge risk assets in 2025
Dollar strength after Trump win may fade as policy and liquidity shift emerge
Credit spreads tighten as investor complacency rises despite slowing growth
Chinese equities trade at multi-decade lows but stimulus may trigger re-rating
