Global equities have had quite the comeback since the Brexit referendum. After plummeting more than 5 percent in the two trading days following the surprise "Leave" result of the June 23 referendum, the S&P 500 (SPY) took just ten days to reach a new all-time high. The Euro Stoxx 50 (FEZ) and MSCI All-Country World Index (ACWV) have likewise climbed, with both up more than 10 percent from their post-Brexit troughs. Can the rally continue? Equity strategists on Credit Suisse's Global Markets team believe it will, and that the upward march in global stocks will continue into 2017.
That optimism is rooted in good news on the manufacturing front. New orders in the U.S. boosted the Markit purchasing managers index (PMI) to an eight-month high in July, while new orders increased in 12 of 18 industries surveyed by the Institute for Supply Management. Rising new orders, combined with more than…
