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One of the highlights of the second quarter for me was making upward revisions to forward earnings estimates for US and global indices—we hadn't been able to do this in several years. In percentage terms, the revisions may seem small, but it is the direction of the change that points toward fundamental improvement worldwide. We are optimistic that this upward trend indicates better prospects for earnings growth through year-end and into 2018.
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Market conditions are extremely fluid and change frequently.
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