A week of data that trims both downside risks on growth and upside risks on inflation are giving a bid to Goldilocks. As we noted in recent weeks, don’t fight the cyclical sweet spot we are entering. While Europe is the weak link, the US stands out this week with strong 2Q GDP and solid consumer spending in June. The Fed and ECB hike but turn data dependent, while the BoJ loosened its YCC.
Speakers:
Bruce Kasman
Joseph Lupton
This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.