Market Insights - December 19th, 2016


Valuations - Where to Next?


Both the U.S. and Canadian equity markets are trading at about 17x earnings, mildly elevated by historical standards. In this edition we take a look at absolute valuations levels and what it means for future index returns.  Plus, we share our views as to where the multiple will go in 2017 – spoiler – it is likely going to come down.