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Caution on equities: US market won’t be back to “normal” until 10-year Treasury hits 4 percent

Jack Ablin, CIO at Cresset Wealth Advisors, appearing on FoxBusiness with Stuart Varney on February 28, 2018. He discusses the new “Normalization” phase in the evolution of Fed policy under recently appointed  Chairman Powell. From an asset allocation perspective, Ablin will not feel completely comfortable with US equities until the 10-year Treasury yield is back to “normal” at 4 per cent. He also delves into the factors that will constrain long-term US economic growth unless productivity is upgraded.