The stock market had a tremendous run during Q1 2017 on the "Trump" trade which was based on a promise of tax cuts, infrastructure spending and higher military spending. Although these three major items could be a stimulus to the economy if successfully executed, they would also contribute significantly to stratospheric $18 trillion US national debt. Increasing US's debt is something that conservative Republicans are staunchly opposed to, therefore passing these measures through Congress will be challenging. I must continue to caution against investing in US equity markets at these high levels as we have recently passed eight consecutive years of economic growth. We recommend underweight in US equities and overweight Cash and Short Term high quality debt products so that you will be well positioned after a major correction occurs. It's not a matter of if, its a matter of when.