Rally continues as investors hope for a soft landing
Equity markets continued their impressive start to the year on growing hopes for a soft landing, gaining in four of the five weeks.
Economic data are softer, but still suggest further solid economic growth. Job gains slowed for May, but were still solid and above expectations, while business surveys suggested decent demand and slightly improving supply indicators, and the consumer has continued to spend despite worsening sentiment. The recent economic indicators imply that while growth is slowing, it is continuing at a solid pace.
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