Evidence that inflation is falling and global growth is stalling gave EPFR-tracked Bond Funds a shot in the arm during the first full week of January. Ahead of December’s CPI number, which showed US inflation grew at a 13-month low of 6.45% in the final month of 2022, investors committed over $17 billion to all Bond Funds.
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Global Navigator: Growing fears about global growth
Asset markets endured further pain during the second week of May as investors tried – and largely failed — to square tighter monetary policy in the US and other markets with the latest global GDP forecasts. The World Bank, which came in 2022 forecasting global GDP growth of 4.1% for the year, dropped that estimate to 3.2% in April and is expected to lower it again after data showed the US economy contacting by 1.4% in the first quarter.
Global Navigator: Chasing earnings and keeping powder dry
With four out of five US companies reporting Q3 2021 earnings that beat expectations, US equity markets climbed to fresh record highs during in late October.