Naomi Fink, chief global strategist and chief economist at Amova Asset
Management, said the firm expects US growth to remain resilient but that its
sustainability increasingly depends on the interaction between corporate
earnings, investment returns and financing conditions. October business surveys
continue to show strong activity despite a sharp slowdown in employment growth
in September and uneven household-level gains. Growth appears to be narrowing,
consistent with a higher tail risk of slowdown, and financing is becoming a more
important test for the investment cycle.
