The long-run expected total return for the Global Market Index (GMI) ticked higher for a third straight month in June, rising to an annualized 7.3% from the 7.2% estimate in the previous month. Today’s estimate is moderately below GMI’s realized 10-year performance. The forecast is calculated as the average of three models (defined below) for GMI, an unmanaged global benchmark that’s based on a market-value weighted mix of the major asset classes (excluding cash).
Daily Archives: July 2, 2025
Macro Briefing: 2 July 2025
US job openings rose in May, reaching the highest level since November 2024. The increase surprised economists, who expected openings to decline. Despite the latest upturn, “We suspect underlying demand for new workers continues to recede amid growing signs of consumer spending fatigue,” said Sarah House, a senior economist at Wells Fargo.
