The S&P 500 powered to a succession of 21 new record highs over the past 3 months, producing a 10.2% quarterly gain and hitting a new all-time high on Thursday of 5254. This superlative
performance, which defied a crescendo of bubble warnings, resulted from the refusal of the economy to roll over without any inflation expectations distortion. Real GDP rose…
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A Macro Market View by Hubert Marleau