| After the Brexit, there has been evidence of large inflows of money into equity markets, and those inflows seem to discount valuation and growth concerns in favor of dividends that are higher than comparable interest attainable from near-term and midterm duration fixed income.
In what seems like a search for yield, after the Brexit, the spigot seemed to open for these inflows, and it is my opinion that these inflows are coming from the biggest boys in the room, namely sovereign-wealth funds (SWFs). Sentiment on the Street suggests that these massive funds can push this market up forever, and they certainly have the money, but they also have mandates, ones that are not easily modified, and therefore certain limitations exist...............................................Full Article: Source
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