Last week, global equities hit another all-time high. The MSCI World Index rose to a record level, the value of all the companies in the S&P 500 crossed the $20 trillion mark for the first time ever and the FTSE 100 closed above 7,300.

With the bull market that started in 2009 seeming long in the tooth, should investors now start getting nervous? After all, what goes up must come down – right?  Despite the fact that the US generates only 16pc of global GDP, the main driver of equities right now is what is going on in America.

Trade policies, the rising dollar and hopes for the Trump administration’s reflationary policies – tax cuts and increased fiscal spending – are setting the global agenda.

…read more on Telegraph