Some investors are beginning to think the market is on cruise control, as the S&P 500, the MSCI Europe, and the MSCI Asia ex-Japan indices, for the first time in 30 years, have not had a 5 percent pull back this year. Brian Singer, head of William Blair’s Dynamic Allocation Strategies team, joined a panel on CNBC’s “Closing Bell” to discuss how the rally is affecting U.S. and global markets.
“This is the first time the market has really had an opportunity to rally when there’s not a growth scare and people aren’t looking at it and saying valuations are out of control,” Singer said. “I wouldn’t say it’s on cruise control—it’s almost like it’s on autopilot.”
Singer noted that money is flowing into ETFs and rule-based strategies, which is pushing systematic exposures globally.
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