The expected return for the Global Market Index (GMI) ticked up in August from the previous month. Today’s revised long-run forecast for this benchmark — a market-value-weighted portfolio that holds all the major asset classes (except cash) via a set of ETF proxies — edged up to an annualized 6.6% return, the highest so far in 2023.
Daily Archives: September 5, 2023
Macro Briefing: 5 September 2023
* Will a strong job market immunize the US from recession? Maybe not
* China Composite PMI, a GDP proxy, indicates Aug growth slowest since Jan
* China’s Country Garden, a property developer, avoids default–again
* Eurozone economy contracts at faster pace in August via PMI survey data
* Modest global mfg contraction continued in August via PMI survey data
* US manufacturing activity contracted for 10th straight month in August
* US payrolls rose more than forecast in August
* Economists expect US economic growth will slow in 2024:
