The US market has never had such a long period without a rate rise – and if history is any guide – investors should not expect valuations to continue rising when the tightening begins. According to Data compiled by Goldman Sachs, PE Ratios will stop expanding as soon as the Fed Raises rates. “In the quarter after the last 12 tightening cycles began, P/Es contracted by an average of 7.2 percent.” Full article here: (VIEW LINK)