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Capital Market Outlook

June 3, 2024


  • Macro Strategy — Dollar Strength Defies Skeptics: With U.S. inflation surprising to the upside and central banks overseas on track to help reduce interest rates more than the Federal Reserve this year, the interest rate differential is likely to continue to favor the dollar, keeping it stronger for longer.

  • Market View — A Closer Look at May's Market Moves: Improving corporate earnings, a “better-than-feared" inflation print, and increased expectations for monetary policy easing all acted as supports in May.

  • Thought of the Week — How Much More Can the World Import from China?: Already, excess capacity of clean technology products has fueled a dramatic uptick in China's exports of electric vehicles, lithium-ion batteries and solar panels.

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