A revised long-term performance forecast for the Global Market Index (GMI) fell again in August. The downshift marks a second straight decline in expected return for GMI, an unmanaged benchmark that holds all the major asset classes (except cash) according to market weights via a set of ETF proxies.
Daily Archives: September 4, 2024
Macro Briefing: 4 September 2024
US manufacturing activity continued to contract in August, according to survey data released for the ISM Manufacturing Index. The benchmark ticked higher last month but reflected contraction for the fifth straight month and for the 21st time in the last 22 months. The report also showed that manufacturers continue to pay higher prices for inputs. “Input price pressures moved up modestly to the highest in three months, but they are not so high in our judgment to threaten continued slow disinflation,” says Conrad DeQuadros, senior economic advisor at Brean Capital. “No bar to a September rate cut here but nothing to push the Fed to a half-point cut either.”
