Issue 25 – Rational Expectations: Inflation or Productivity

A Snapshot of the Market for the Week Ended June 25, 2021:

The stock market was upended last week after the Fed signalled it would begin to dial back the monetary stimulus that helped fuel the recovery. This week, the market regained its footing. The fall in equity prices was technical, adjusting to a growing awareness that we are in a mid-cycle market after a strong early-cycle rally within an ongoing bull market. The economy continues its post-pandemic recovery, but it is becoming increasingly clear that the pace is slowing down.


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By Hubert Marleau

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By Hubert Marleau

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