International Economic and Market Overview April 2013
The US economy continues to produce modest but consistent growth (Q1 GDP was 2.5%) and steadily declining unemployment (April jobless rate declining to 7.5%). This new ‘lukewarm’ rather than ‘goldilocks’ environment, neither too hot nor too cold, should allow the Fed to continue its current accommodative stance which is positive for US stocks. Combine US growth with a new rate cut by the European Central Bank to 0.5% and there is ample support for all risky assets. The S&P 500 index rose 1.8% in April and is up a healthy 12% so far in 2013. 04_2013_CFAL_International_Economic_and_Market_Overview-1 Click here for full Global Market Review

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