From Moody’s today:
Pricey Stocks and Subpar Profits Curb M&A and Age the Cycle
The tendency to extrapolate the latest sequential change into the start of a new trend is the mark of a rank amateur prognosticator. Though real GDP’s annualized quarterly increase is expected to rise from Q1-2016’s 1.1% to 2.6% for Q2-2016, the latter is not necessarily the sign of things to come.