July delivered a strong month of rebounding prices for the major asset classes. The red ink that dominated the numbers for June gave way to across-the-board gains last month, with US stocks leading the way. The Global Market Index (GMI), a markets-weighted, unmanaged mix of the major asset classes, posted a strong 3.5% increase in July–its best monthly advance in more than a year. For 2013 through the end of last month, GMI is up a respectable 6.5%.
Daily Archives: August 2, 2013
Slower Jobs Growth In July, But The Macro Trend Remains Positive
Private payrolls increased by a seasonally adjusted 161,000 in July, the Labor Department reports. That’s below expectations, but the moderately disappointing pace of growth last month isn’t out of character with the trend this year. In fact, when you consider today’s number in context with the other economic news of late, there’s still a good case for assuming that a moderate rate of expansion is still with us for the economy overall.