Federal Reserve Chairman Jerome Powell, speaking at a conference on Tuesday, gave the doves most of what they wanted to hear. Although he said more evidence was needed to rationalize cutting interest rates, his overall message favored expectations that policy easing is on the near-term horizon.

Continue reading →

* Fed Chair cites ‘progress’ on inflation but more confidence needed before cutting
* New US vehicle sales barely rose in the second quarter
* China services activity growth eases to 8-month low in June
* Eurozone production activity in June falls at fastest rate in 2024 to date
* US job openings unexpectedly rose in May:

Continue reading →

The return forecast for the Global Market Index (GMI) held steady in June after ticking higher for four straight months. GMI’s long-term forecast is unchanged at an annualized 7.1%, matching 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.

Continue reading →

* Signs of cooling US labor market put Fed on alert
* Global manufacturing PMI indicates weak growth continued in June
* Eurozone headline inflation eases to 2.5% in June
* US construction spending posts unexpected decline in May
* US manufacturing sector contracts for third straight month via ISM survey:

Continue reading →

US stocks again secured the top spot for monthly performances in June for the major asset classes. The rally marks the second straight month that American shares led global markets, based on a set of ETFs.

Continue reading →

* Top Dems rule out replacing Biden on ticket
* Far right leads France’s first round of parliamentary elections
* China manufacturing sector contracts for second month in June
* After bitcoin ETF mania cools, investors wonder what’s next for crypto
* Key Fed metric shows inflation eased slightly in May:

Continue reading →