This is largely because of the bull market macroeconomic backdrop that spurs growth and inflation. (morganstanley.com)
We could see a return to these valuations over the next couple of years on higher demand, a stronger macroeconomic backdrop and cyclical fundamentals, as shown in the following chart courtesy of DoubleLine Capital: (usfunds.com)
«There's a recognition that the macroeconomic backdrop is very different heading into this year,» said Jeffrey Rosenberg, chief fixed - income strategist at BlackRock. (cnbc.com)