Actually, it has not been one long expansion since 2009, as we now can see how the slumping oil price caused a mini-recession a few years back.
John Vail, Chief Global Strategist for Nikko Asset Management, contributes a regular column to Forbes.com
Our London-based Emerging Market fixed income analyst predicts increased volatility ahead for Latin American markets due to the threat of Leftist election victories this year, but that pro-market reforms will still progress.
Our updated view remains positive on the global economy and equity markets even as global bond yields rise a bit further. Our SPX target remains near 3000 by year end, with impressive gains elsewhere too.
In my view, Japan is the only major country that is going through a structural improvement in corporate governance, and, thus, deserves special attention by global investors.