The S&P 500’s trailing 10-year return remains well above the average forecast of our models. Bulls see AI, growth, and Fed cuts keeping the party alive, but valuations suggest the market’s fully ...

iShares EAFE (EFA) is up 2.34% year-to-date with 21.82% trailing twelve-month return, while SPDR S&P 500 (SPY) is down 1.4% year-to-date with 17.4% trailing return. Dollar weakness and rotation toward ...