The first major economic report for April brings encouraging news. Economic activity in the manufacturing sector expanded last month, the Institute for Supply Management reports. One update must be taken in context with the broader trend, of course. Indeed, a single report can’t wipe away the recent worries about another spring slowdown. Still, today’s ISM news offers a timely burst of optimism that promotes the idea that the weak economic news in some corners over the past several weeks isn’t necessarily the last word on what’s ahead.
Daily Archives: May 1, 2012
Major Asset Classes | April 2012 | Performance Review
REITs and bonds stole the performance show last month among the major asset classes. As stocks around the world retreated slightly in April, REITs forged ahead for the second straight month, rising 2.9%, according to MSCI REIT. Meanwhile, the crowd resumed its love affair with bonds. U.S. fixed income gained 1.1% last month, based on the Barclays Aggregate Bond Index (its best month since last August), while inflation-indexed Treasuries surged 2.0% as per Barclays Treasuries Tips Index.
Strategic Briefing | 5.1.12 | The Macro Pain In Spain
Europe, in Slump, Rethinks Austerity
The Wall Street Journal | May 1
Spain has joined seven other euro-zone nations in recession, according to data released Monday, providing new evidence that austerity policies are failing to spark confidence in the region’s economies ahead of a week of expected anti-austerity protests and a string of important national elections.