Roundtable in Charts: Four Market Implications of Easier Regulation

Capex has stagnated in recent years

"We see room for increased capital expenditure in a more confident business environment, given the patchy recovery since the crisis. As a result, we have positioned portfolios to gain from continued credit expansion and modest defaults, while preserving liquidity to make adjustments under stressed scenarios."

—Rachel Golder

MLP Fund Flows

"We favor midstream companies such as pipelines as they are federally regulated—upstream companies are regulated at the state level—and they are less exposed to fluctuations in commodity prices. And energy infrastructure funds have registered strong inflows year-to-date."

— Kyri Loupis

Price-to-Book Ratio

"I don’t think the longer-term implications are discounted in stocks…We see opportunities in Financials, as the sector has been trading at a discount to long-term averages on some metrics relative to other sectors."

— John Arege

CEO Confidence and M&A Activity

"If CEO confidence continues to improve, we could see some uplift in strategic M&A. That said… Trump’s stated emphasis on jobs may mean more obstacles to consolidation in some sectors."

— Stephen Waxman

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Capex has stagnated in recent years

MLP Fund Flows

Price-to-Book Ratio

CEO Confidence and M&A Activity

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