Economic indicators and markets send mixed signals
MONTHLY MARKET COMMENTARY |
Strength across risk-assets has fueled investor optimism, despite ongoing U.S.-China trade negotiations, low inflation, BREXIT, geopolitical tensions and slowing global growth. Realized 30-day equity volatility collapsed 9.0 percent and ranked among the lowest quartile of historical observations. Investors can take some solace in stronger than expected real gross domestic product growth in the U.S. (3.2 percent versus 2 percent expected) and low unemployment rates. But signals from the U.S. bond market convey a less sanguine outlook. How should investors reconcile these mixed signals?
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