Equal weighting has its advantages — and disadvantages. Whether you should use this model-free, perfectly unbiased approach to portfolio design is debatable. But in the realm of benchmarking, there’s a strong case to adding it to the mix.
Tomorrow’s release of second-quarter US economic data from the government is expected to show output grew at a stronger rate over Q1’s robust gain, based on a set of nowcasts. In line with recent updates, however, today’s estimate reflects another downside revision relative to previous Q2 nowcasts.
* IMF warns that higher inflation could be more than transitory
* Tapering timeline in focus in today’s press conference with Fed’s Powell
* Apple, Microsoft and Google report huge profits for Q2
* Is the sharp drop in China stocks a buying opportunity? Not yet, says UBS
* US durable goods orders continued increasing in June
* US Consumer Confidence Index ticked up in July to new pandemic high
* US house price increase continued to accelerate, breaking records in May: