The old adage couldn't be further from the truth this year, as this month will be quite newsworthy between the UK elections and the continued Greek Odyssey. The dollar is starting to rebound, which gives a few opportunities to get out of excess Euros (for the Americans) and potentially get money to work.
The numbers are coming off their first quarter lags, which most identified as weather and dollar strength related. Manufacturing is still showing strong but not inflationary, new housing in the US is positive but not beyond usual growth and the only disappointment in the US was declining consumer confidence and a dismal 0.2% GDP growth for the first quarter (but on the bright side with the dollar move, being positive is something to celebrate).
Everything that seems to be slowing in the US, seems to be the opposite in Europe. The first quarter was the best quarter in seventeen years for the continent. With continued stimulus and some political cooperation, Europe looks like it could turn around.
Fixed income in Europe is bouncing like a yo-yo and looking for some long-term stability and this is why we are excited to bring in our friends from Raiffeisen Asset Management to discuss the markets on Tuesday, May 26th.
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