Risk Appetite Improves as Markets Ignore Signs of Slowing Economic Momentum
Hopes for a soft landing in the US economy are slowly fading, but strong corporate earnings are keeping asset prices elevated for now. North American equity futures are pointing to a modestly stronger open after a series of better-than-expected earnings releases, and the trade-weighted greenback is up slightly as flows into US markets offset concerns about the longer-term outlook. We’re reminded of the old joke about the optimist who jumped off the Empire State Building – as he was falling, someone asked, “How’s it going?”, and he responded:“So far, so good!” Yields on both sides of the 49th Parallel remain...