Downside risk for Emerging Markets continues to lurk: Two weeks ago (Mar. 24) the potential for an extended haircut in Vanguard FTSE Emerging Markets (VWO) appeared to be bubbling. The financial gods, however, laughed at the idea and the ETF subsequently bounced. Game over? Not yet since the rally looks unconvincing.
The upcoming first-quarter economic report for the US is expected to post a strong acceleration in growth, according to a set of nowcasts. The projected gain in gross domestic product (GDP) has been steady recently, suggesting a relatively high reliability that the Apr. 29 release from the Bureau of Economic Analysis will reflect a faster expansion in Q1 vs. the previous quarter.
* Global middle class shrank last year–first time since 1990
* Brazil’s Covid-19 deaths set to exceed worst of US wave
* Markets pricing in a Fed rate hike for 2022
* Debt and climate change are rising risks for dozens of countries
* IMF raises 2021 growth estimates for US and global economy
* Eurozone economy rebounded in March via PMI survey data
* US job openings rose in February to two-year high: