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Coalitions, Compromises, Continuity, Chaos
Elections offer citizens the opportunity to turn the tides by prompting political, economic and social reforms. In the past week, the global stage witnessed the unfolding of three distinct electoral contests across various regions, each yielding results that may redefine the trajectories of the respective countries.
Growth Team Weekly Investment Insights
1) Data Shows US Economy Avoids Inflationary Overheating, Fed Likely to Breathe Easier
As we bid farewell to May, the key reaction was a collective exhale of relief
Documenting Your Dollar
Sailing Towards Reform
Dominican Republic President Abinader cruised to re-election over the weekend, winning outright in the first round of voting and avoiding a run-off. While the polls heavily telegraphed the outcome in favor of Abinader, this reaffirms the country’s commitment to growth and development.
Growth Team Weekly Investment Insights
1) The S&P 500® Index’s Strong Earnings Season
According to FactSet, the S&P 500® Index’s Q1 blended (actual and estimated results) year-over-year earnings growth rate is 5.3% with 92% of index constituents reporting results.
Playing Defense
In 2023, global defense spending reached a historic high of $2.4 trillion, reflecting a 6.8% increase from the previous year—the largest since 2009. This surge, illustrated in the chart below underscores how widespread defense spending has grown in recent years, with increases across all major geographical regions.
Growth Team Weekly Investment Insights
1) Job Openings and Labor Turnover Survey (JOLTS) and Institute of Supply Management’s (ISM) Index
Last week’s macro calendar was labor-heavy. First up was the JOLTS report, which displayed continued easing in the number of job openings.
Growth Team Weekly Investment Insights
1) Another Disappointing Inflation Data Point
Expectations of a 2024 rate cut were further hampered last week when both the personal consumption expenditures (PCE) and core PCE inflation measures came in higher than expected.
A Fresh Perspective on Accessing Local Currency Markets
Growth Team Weekly Investment Insights
1) Conflicting Messaging: Strong Retail Sales vs Rising Delinquencies
Given its importance in the US economy, a lot of attention is on the consumer.