There’s no shortage of macro risks facing the US economy, but personal income and spending aren’t among them, at least not in today’s update. Both measures increased at healthy if unspectacular rates in November vs. the previous month, the Bureau of Economic Analysis reports.
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Asset allocation is widely celebrated as the most-important investment decision, but the details matter… a lot. Indeed, sometimes asset allocation can be your worst enemy, depending on how the strategy is executed.
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● US consumer spending in Nov rises by most in 3 mos | Bloomberg
● US Q3 GDP revised down slight to 2.0% | CBS Money Watch
● US economy set to grow less than 3% for the 10th straight year | Mkt Watch
● US existing home sales plunge; new rules seen as drag | Reuters
● Richmond Fed: Manufacturing expands in Atlantic region | Bond Buyer
● Summers: Fed’s mistakes are a cause for pessimism | WaPo
● OPEC: Developing Nations Will Drive Energy Demand Next 25 Yrs | MNI