Total return expectations for the Global Market Index (GMI) continue to hold at 4%-plus, or roughly half the level of the index’s 10-year performance.
Today’s update of new total return forecasts for GMI through October show the benchmark’s ex ante performance ticked up to a 4.4% total return for the long term, slightly above the 4.3% estimate in last month’s outlook.
The Federal Reserve yesterday confirmed what it’s been hinting at for months: it will start winding down its bond-buying program. It’s still a long leap to launching interest-rate hikes, Fed Chair Powell suggests. But the first baby step has been taken for laying the groundwork for a post-pandemic policy regime.
* Federal Reserve says it will start tapering bond purchases this month
* Fed Chair Powell offers no hints interest-rate hike in near term
* Does the Fed risk a policy mistake by letting inflation run hot?
* Inflation debate lurks behind stock market’s bull run
* US private employment rose more than expected in October via ADP data
* Eurozone growth slows to six-month low via PMI survey data
* Factory orders in US unexpectedly increased in September
* US services industry activity surges to record high via survey data in Oct
* US 10-year Treasury yield rebounds to 1.60% as Fed dials back bond buying:
