Markets continued their impressive rally in Q1 as a positive combination of stable economic growth, falling inflation, impending Fed rate cuts and ever-growing enthusiasm towards artificial intelligence (AI) propelled stocks higher. The overall U.S. market rose by +10.0%. In this report, we take a closer look at some of the reasons why the U.S. economy did not experience a recession last year in the face of the sharp rise in the cost of capital. We also explore the perennial question of whether the stock market is now overvalued due to its recent strong performance.

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