The expected long-run return for the Global Market Index (GMI) ticked up to a 6.0% annualized pace in May, slightly above the previous month’s estimate. The forecast, based on the average estimate for three models (defined below), is near the lower range for realized performance in recent history, based on a rolling 10-year return.
Daily Archives: June 2, 2023
Macro Briefing: 2 June 2023
* Senate passes debt ceiling bill, sending legislation to Biden to avert default
* Global manufacturing output rises in May but new orders continue to fall
* Arizona limits residential construction around Phoenix due to water shortage
* US manufacturing sector continues to contract in May via ISM Mfg Index
* Jobless claims edge up but remain relatively low
* Construction spending in US for April rises well above expections
* US companies hire more workers than expected in May via ADP estimate:
