Market Overview The global economic recovery has been uneven. This is evident in the year-to-date change in 10-year government bond yields, including the U.S. (+51 bps), Germany (+34 bps), Japan (+2 bps), and China (-6 bps). Further signs of an uneven recovery are found in USD-based equity market returns for the U.S. (+18%), Europe (+12%), Japan (+2%), and China (+1%).
Cycle Update
Cycle Update
Cycle Update
Market Overview The global economic recovery has been uneven. This is evident in the year-to-date change in 10-year government bond yields, including the U.S. (+51 bps), Germany (+34 bps), Japan (+2 bps), and China (-6 bps). Further signs of an uneven recovery are found in USD-based equity market returns for the U.S. (+18%), Europe (+12%), Japan (+2%), and China (+1%).