--- title: Nuveen Weekly Commentary December 2016 description: Nuveen Asset Management commentary on the recent stock market rally, their pro-growth, pro-risk stance. image: http://www.wrapmanager.com/hubfs/blog-files/Nuveen_Commentary.png --- [![Assembly Wealth](https://www.letsassemble.com/hs-fs/hubfs/Assembly/logos/Assembly-Wealth-Logo-Orange-500px.png?width=300&height=70&name=Assembly-Wealth-Logo-Orange-500px.png "Assembly Wealth")](https://www.letsassemble.com/) The Money Manager People TM [800-541-7774](tel:+18005417774) [![RESEARCH MONEY MANAGERS](https://no-cache.hubspot.com/cta/default/10700/7ecbcb66-3fbb-41e3-b219-c24fb3c769c5.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/7ecbcb66-3fbb-41e3-b219-c24fb3c769c5) [![Client Center](https://no-cache.hubspot.com/cta/default/10700/8691dcb4-caa3-42c2-a810-77b59f461fd2.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/8691dcb4-caa3-42c2-a810-77b59f461fd2) [Home](https://www.letsassemble.com/) WrapManager's Wealth Management Blog When life changes, we can help you thoughtfully respond. [< Back to read another post](https://www.letsassemble.com/wealth-management-blog) # Nuveen Weekly Commentary December 2016 Posted by [ WrapManager's Investment Policy Committee](https://www.letsassemble.com/wealth-management-blog/author/wrapmanagers-investment-policy-committee) December 19, 2016 - [Tweet](https://twitter.com/share) ## [![Nuveen_Commentary.png](http://www.wrapmanager.com/hubfs/blog-files/Nuveen_Commentary.png)](http://www.wrapmanager.com/hubfs/MM_Commentary_PDFs/Nuveen-Weekly-Commentary-Dec-2016.pdf)Investors Focus on Positives, Ignoring Negatives Investor sentiment remained skewed positive last week, helping equity markets rally sharply. The S&P 500 Index surged 3.1%, as the focus remained on prospects for better economic growth, tax reform and potential fiscal stimulus in 2017. For the week, small caps and financials led the way, while health care stocks lagged. Read an excerpt of the complete commentary below, or [view the entire weekly investment commentary](http://www.wrapmanager.com/hubfs/MM_Commentary_PDFs/Nuveen-Weekly-Commentary-Dec-2016.pdf) as a PDF. ### Key Points: - Equity markets continue to rally, with investor sentiment improving since the summer. - Rising bond yields and the climbing U.S. dollar are potential negatives for equities, but markets have remained resilient so far. - Despite some clear risks, we retain a pro-growth, pro-risk investment stance. ## What’s Behind the Recent Rally? The current rally appears to have been primarily triggered by November’s election results and higher prospects for a pro-growth, pro-business legislative agenda. However, we believe fundamental economic and earnings improvements emerging over the summer are just as important. The rally is also fueled by a not atypical year-end seasonal bounce and investors who may have missed the initial rally adding to positions. For now, investors are looking past issues such as potential negatives from the political environment, elevated sentiment, stretched valuations and possible issues associated with Federal Reserve policy. The broad pro-risk shift will likely continue through year-end and into early 2017. [Download Nuveen Asset Management's complete commentary](http://www.wrapmanager.com/hubfs/MM_Commentary_PDFs/Nuveen-Weekly-Commentary-Dec-2016.pdf), or [read JP Morgan's predictions for 2017](http://www.wrapmanager.com/wealth-management-blog/jp-morgan-2017-stock-market-outlook). To learn more about [Nuveen Asset Management](http://www.wrapmanager.com/money-manager-research/nuveen_asset_management) and other Money Managers, give us a call at [1-800-541-7774](http://www.wrapmanager.com/wealth-management-blog/wells-fargo-advisors-lack-of-dovish-action-leaves-investors-cold/tel:+18005417774) or [contact us here](https://www.wrapmanager.com/contact) to speak with one of WrapManager's Wealth Managers.   [**![PDF Download](http://www.wrapmanager.com/hs-fs/hub/10700/file-2346359955-gif/blog-files/pdficon.gif) Download Nuveen Asset Management's Full Commentary**](http://www.wrapmanager.com/hubfs/MM_Commentary_PDFs/Nuveen-Weekly-Commentary-Dec-2016.pdf) ![Research Money Managers](http://www.wrapmanager.com/hs-fs/hub/10700/file-2346359965-gif) **[Get Free Research Reports on Nuveen Asset Management](https://www.letsassemble.com/money-manager-research/nuveen_asset_management)** [Economic/Market Outlook](https://www.letsassemble.com/wealth-management-blog/topic/economicmarket-outlook) [Nuveen Asset Management](https://www.letsassemble.com/wealth-management-blog/topic/nuveen-asset-management) [S&P](https://www.letsassemble.com/wealth-management-blog/topic/sp) [Money Manager Commentary](https://www.letsassemble.com/wealth-management-blog/topic/money-manager-commentary) ### Subscribe to Updates [Subscribe to RSS Feed](https://www.letsassemble.com/wealth-management-blog/rss.xml) [![New Call-to-action](https://no-cache.hubspot.com/cta/default/10700/ffe2a394-957b-481b-9f80-4ef176bd6aaf.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/ffe2a394-957b-481b-9f80-4ef176bd6aaf) ### Most Recently Published ### Blog Authors [![Gabriel Burczyk](http://www.wrapmanager.com/hs-fs/hub/10700/file-2347381761-jpg/Athors_Avatars/Gabe-avatar.jpg "Gabriel Burczyk")](http://www.wrapmanager.com/wealth-management-blog/author/gabriel-burczyk) [**Gabriel Burczyk,**](http://www.wrapmanager.com/wealth-management-blog/author/gabriel-burczyk) [Founder & CEO](http://www.wrapmanager.com/wealth-management-blog/author/gabriel-burczyk) [![Valerie De Vol](http://www.wrapmanager.com/hs-fs/hub/10700/file-2457588837-jpg/Athors_Avatars/Valerie-De-Vol-avatar.jpg "Valerie De Vol")](http://www.wrapmanager.com/wealth-management-blog/author/valerie-de-vol) [**Valerie De Vol, **IACCP® Chief Operating Officer](http://www.wrapmanager.com/wealth-management-blog/author/valerie-de-vol) [![Seton-avatar.jpg](http://www.wrapmanager.com/hs-fs/hub/10700/file-2344519198-jpg/Athors_Avatars/Seton-avatar.jpg "Seton-avatar.jpg")](http://www.wrapmanager.com/wealth-management-blog/author/seton-mcandrews) [**Seton McAndrews, **CFP® ](http://www.wrapmanager.com/wealth-management-blog/author/seton-mcandrews)[Vice President - Investments](http://www.wrapmanager.com/wealth-management-blog/author/seton-mcandrews) [![Doug Hutchinson](http://www.wrapmanager.com/hs-fs/hub/10700/file-2347381751-jpg/Athors_Avatars/Doug-avatar.jpg "Doug Hutchinson")](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson) **[Doug Hutchinson,](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson) **[CFA® ](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson)[Director of Research and Trading](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson) ![Katie - square.png](https://www.wrapmanager.com/hubfs/Katie%20-%20square.png "Katie - square.png") [**Katie O'Connor **Director of Client Services](https://www.wrapmanager.com/wealth-management-advisors/katie-oconnor) **Important Disclosure Concerning WrapManager Blogs** Blogs found at this site have been created or supported by WrapManager. 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