By Tyler J. Pullen, CFA

In some ways it is hard to reconcile the fact that equity markets are hitting new highs here in early July, with the level of worry and angst that seems to only ease for a few days. Market participants see negative sovereign rates around the world, mounting debt levels in China, structural problems in Europe and a US cyclical expansion that is past its normal duration. This has pushed many investors out of the equity market altogether and has shaken the confidence of most of us who have to navigate it.