109 trading days since the S&P futures has had a pull-back of 5% or more and on current trend, is it unlikely abate. Analyst estimates which suggest second...

109 trading days since the S&P futures has had a pull-back of 5% or more and on current trend, is it unlikely abate. Analyst estimates which suggest second quarter numbers from the US could collectively see double digit growth for the first time post the GFC. This all feeds into the theories that the US markets are likely to grinder higher still. This is despite the fact that we are now starting to see more speculation about the future of the federal funds rate and the 'move higher'. Bringing forward their expectations on the fed funds rate is Goldman Sachs moving their expectations of the first move higher to the third quarter of 2015 from the first quarter of 2016. This is a substantial move forward in time. However, it is still 12+ months away, and with the rate still sub -0.25% credit spending and corporate expansion can continue relatively unabated. (VIEW LINK)