Cash led the performance race in August for the major asset classes, based on a set of proxy ETFs. In fact, most markets posted losses last month. The handful of winners, in addition to cash: a broad measure of commodities and US junk bonds.
Daily Archives: September 1, 2023
Macro Briefing: 1 September 2023
* US consumer spending accelerated in July
* Slowing sales at Dollar General suggest softer US consumer spending ahead
* Eurozone manufacturing PMI reflects “steepening downturn in August”
* China’s economic headwinds may be linked to the ‘paradox of thrift’
* China Manufacturing PMI shows stronger operating conditions in August
* US mortgage rates ease after 5 weeks of climbing
* US jobless claims eased last week, remaining near multi-decade low
* Chicago PMI survey data continues to indicate contracting mfg activity in August
* US PCE inflation edges up for 1-year change through July:
