The smart money is hedging against the US

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The smart money is hedging against the US

New York (CNN Business)Wall Street is giddy about the possibility that the Federal Reserve could lower interest rates as soon as July. The S&P 500 traded at an all-time trading high Thursday. But some experts think it’s time investors look outside the United States.

“There are bigger and better opportunities in emerging markets like China and India,” said Chris Gaffney, president of world markets for TIAA Bank.
Gaffney said that is partly because valuations for stocks in those markets are more attractive than in the United States. The S&P 500 (SPX), after all, is now up 18% this year while the Nasdaq (COMP) has soared more than 20%.