The case for international diversification from a US-investor perspective usually centers on how to carve up a global equities allocation. The global bond footprint, by contrast, tends to be an after-thought for most investors. But after reviewing year-to-date results for bonds ex-US, strategists may be inspired to rethink the oversight.
Daily Archives: October 21, 2024
Macro Briefing: 21 October 2024
US housing starts remain subdued in September. Residential housing construction eased 0.5% to 1.35 million units last month, which is close to the lowest level since the pandemic was raging. “With affordability still a pressing issue in many regions, home building will likely remain stagnant until the Fed is well into its easing cycle and mortgage rates have fallen another one percentage point,” writes Sal Guatieri, senior economist at BMO Capital Markets, in a note.
