The U.S.’s prolonged outperformance relative to international equities has many investors wondering if the global markets are overdue for a change in leadership.
The key question on everyone’s mind is – “Is this the bottom?” It is no secret that based on some indicators – most notably the S&P 500 being more than 20% below its all-time high – we have experienced a significant market correction.
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By Veronica Fulton, Research Analyst – GLOBALT Investments. The market is forward-looking, and the yield curve represents all investor expectations on where interest rates should go, both now and in the future. So, what does a narrowing spread between 10-year and 2-year treasuries suggest? The bond market is concerned about both inflation (short-end) and economicRead More
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By Veronica Fulton, Research Analyst – GLOBALT Investments The labor market delivered a disappointing jobs number for the month of April with only 266,000 gains – a little over a quarter of the one million jobs forecasted. Adding fuel to the fire, the unemployment rate rose to 6.1%. The labor force participation rate increased to 61.7%, but this number is still near its lowest level since 1977. With such abysmal numbers, one might expect a correction or, at the bare minimum, a reaction reflecting investors’ dismay. Instead, the market not only shrugged, but smirked, with the 10-year yield dropping -4 basis points and U.S. equity markets up across the board.