The performance outlook for the Global Market Index (GMI) ticked higher again in May. For the fourth straight month, GMI’s long-term forecast edged up, rising to an annualized 7.1% pace, which is fractionally above the estimate in the previous month, based on the average of three models (defined below). GMI is an unmanaged benchmark that holds all the major asset classes (except cash), according to market weights via a set of ETF proxies.
Daily Archives: June 4, 2024
Macro Briefing: 4 June 2024
* US Q2 GDP nowcast revised down, again, to +1.8% via Altanta Fed’s model
* Global manufacturing activity improves in May, rising to 22-month high
* Weak US construction spending trend continues in April
* Warren Buffett’s Berkshire Hathaway owns 3% of the US Treasury bill market
* US manufacturing activity contracts for second month in May:
