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News

MFS Strategist's Corner - 2 December 2013

Fund Manager Updates

MFS Strategist’s Corner – James Swanson, CFA

To invest or not to invest in 2014? That depends on what is yet to come

IN BRIEF

  • Recent data on US jobs and economic growth have surprised on the upside, and better news has come out of Europe.
  • Corporate productivity and profitability, housing affordability, pent-up demand and population growth have all supported the US economy.
  • As the cycle extends into 2014, we expect to see more benefits from falling energy prices and rising global growth.
  • The competitive cost structure of US manufacturing has held margins steady as revenues have revived.
  • While current valuation metrics are mixed, whether equities turn out to be overvalued will depend on earnings growth going forward.

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