The long-run performance for the Global Market Index (GMI) rose to a 6.3% annualized pace in June, moderately above the previous month’s estimate. The shift marks the second month of firmer estimates. The forecast is based on the average estimate for three models (defined below) and remains near the lower range for realized performance in recent history, based on a rolling 10-year return.
Daily Archives: July 5, 2023
Macro Briefing: 5 July 2023
* Global manufacturing activity continues to contract modestly in June
* US preparing limits on Chinese firms’ access to US cloud-computing services
* China’s export controls on metals used in semiconductors is “just a start”
* Rate hikes aren’t fully taming inflation, at least not yet
* Oil prices stall despite OPEC’s extension of production cuts
* Eurozone economy “grinds to a halt” in June: PMI survey data
* China economic growth eases to slowest pace since January via PMI survey data
* US manufacturing slump deepens in June via ISM Manufacturing Index:
