February 23, 2017

It’s still early in the year, but a lot has been happening both in markets and the economy. The American stock market isn’t just sitting at record highs; it’s enjoying an unusually long period of tranquility. The last time the S&P 500 closed down at least 1% was 88 trading days ago on October 11th – over a month before President Trump was elected. That’s the longest stretch without a downward daily market move of 1% or more since 2006 according to Bespoke Investment Group. Before that, the last time there was such a long period of calm was 1995.

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