The August update shows a moderate increase in the long-run expected risk premium for the Global Market Index (GMI), an unmanaged, market-value weighted mix of all the major asset classes. GMI is projected to earn an annualized 4.7% return over the “risk-free” rate. That’s up from last month’s 3.9% estimate.
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Private nonfarm payrolls in the US are projected to rise 223,000 (seasonally adjusted) in tomorrow’s August update of the ADP Employment Report, based on The Capital Spectator’s median econometric point forecast. The expected gain is slightly higher than the previously reported increase for July.
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