Be alert but not alarmed as market soars
As many of us digested the elevated 12 month returns inked at the end of March, it was somewhat easy to miss the strong returns also witnessed in April. While this is consistent with historical seasonal cycles, the end of April also saw President Biden mark his first 100 days in office with the best US stock market performance under a new president since Franklin D. Roosevelt in 1933. After taking a pause in March, broad economic data moved higher partly due to the first month of base effects rolling through the year-on-year numbers. The Atlanta Fed’s own GDPNow tracker doubled during April...
Source: schroders.com