Stock markets in the developed world outside the US led the major asset classes higher last week, based on a set of proxy ETFs. Vanguard FTSE Developed Markets (VEA) posted an 0.8% total return for the five trading days through May 20, delivering a slightly stronger performance vs. the rest of the field.
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● US existing home sales rise 1.7% in April | MarketWatch
● Fed’s Rosengren tells FT: US ‘on the verge’ of meriting June rate hike | Reuters
● Euro-Area Growth Seen Slowing via PMI survey | Bloomberg
● Brexit ‘would spark year-long recession’, UK Treasury warns | BBC
● Bookmaker odds suggest UK will remain in EU | OCA
● Japan’s economy remains on a “moderate recovery” track | MNI