- US REITs top market returns this week
- Portfolio strategy benchmarks continue trending higher
This year’s rally in US real estate investment trusts (REITs) was looking tired recently, but it turned out to be a pause that refreshes.
Monthly Archives: July 2021
How Fast Will US Growth Decelerate In 2021’s Second Half?
This month’s upcoming release of preliminary second-quarter economic data is expected to show an impressive acceleration in growth following Q1’s strong rise in gross domestic product. The update on July 29 will be rightly celebrated as a highlight of America’s continued economic rebound from last year’s pandemic-induced recession.
Macro Briefing: 9 July 2021
* Biden will sign new executive order to cracking down on Big Tech
* US bond market is pricing in peak economic growth
* Fed’s Bostic says Delta variant could slow economic recovery
* Assessing the blowback from China’s crackdown on tech
* Wells Fargo says it’s ending all personal lines of credit for customers
* Junk bond rally pulls yields below inflation rate
* UK GDP rose by less than expected in May
* China factory-gate inflation cooled in June after reaching a decade high
* US jobless claims ticked up last week but remain near pandemic low:
US Q2 GDP Estimate Slips But Still On Track For Stronger Growth
US second-quarter growth estimates continue to decline, but the upcoming GDP report is still expected to post a materially higher growth rate over Q1’s gain, based on a set of recent nowcasts.
Macro Briefing: 8 July 2021
* Biden considers how to respond to latest ransomware attack
* Fed officials talked of tapering at last meeting
* US states sue Google over charges of abusing power with Play store
* Biden’s plan to raise taxes on wealthy, corporations running into challenges
* European Commission says economic outlook has improved
* Long-running drive to lower corporate taxes leaves payrolls taxes far higher
* US job openings ticked up to another record high in May:
The ETF Portfolio Strategist: 7 July 2021
It may be the most unanticipated rally of the summer, but there’s no denying the strength and breadth of the bond market’s surge of late.
Is The Rise In Treasury Yields Fading?
The 10-year Treasury yield fell sharply yesterday, dropping to 1.37% — the lowest since late-February. The ongoing decline offers more support for arguing that the reflation trade is fading.
Macro Briefing: 7 July 2021
* Tropical Storm Elsa batters Florida’s west coast
* Nuclear talks in doubt after Iran starts producing enriched uranium
* Claims of new Russia-linked computer hacking raises challenges for Biden
* US warship leads drills in Black Sea, Russia’s backyard
* North America experienced its warmest June on record
* Are rising gasoline prices a new headwind for US economy?
* Will winning streak for small-cap stocks continue?
* Global growth retreated to 3-month low in June but remained “strong”
* US growth decelerated in June but expansion remains “impressive”
* US Services PMI fell more than expected in June but still signals strong growth:
Major Asset Classes | June 2021 | Risk Review
Risk-adjusted performance for the Global Market Index (GMI) continued to push higher in June, based on the annualized Sharpe ratio (SR) for a rolling ten-year window via monthly data.
Macro Briefing: 6 July 2021
* Southern Florida braces for Tropical Storm Elsa
* Another ransomware attack compromises up to 1,500 businesses
* Chinese tech IPOs in US at risk as Beijing tightens regulations
* Oil at six-year high after Opec+ cancels meeting
* Hedge fund launches rose sharply in Q1 — the most since end of 2017
* Eurozone retail spending rose more than expected in May
* German investor confidence eases and factory orders retreat
* US jobs growth accelerated in June–biggest gain ten months:
