The expected long-run return for the Global Market Index (GMI) ticked lower in December, slipping below 6% annualized, based on the average forecast for three models. Today’s estimate is roughly in line with the trailing 10-year return for GMI, an unmanaged, market-value-weighted portfolio that holds all the major asset classes (except cash).
Daily Archives: January 4, 2023
Macro Briefing: 4 January 2023
* House adjourns without picking a speaker, marking chaotic opening
* New Covid-19 variant has ‘alarming’ immunity evasion, experts advise
* US Treasury yields fall as demand for safe-haven bonds rebound
* Natural gas prices decline amid forecasts of warmer weather
* UK expected to suffer deepest recession in 2023 among G-10 nations
* Global mfg downturn continues in December, based on PMI survey data
* Eurozone recession eases and inflation cools in December via PMI survey data
* US manufacturing recession deepens in December via PMI survey data:
