Estimated reading time: approximately 3 minutes Global Equity Performance Global equity markets experienced a positive month in July, with returns of 3.5%, contributing to a year-to-date gain of 17.5%. The market’s upward trajectory was supported by key data, mainly from the USA, which raised the likelihood of a soft landing scenario for the economy, alleviating fears of a recession. US Economy and Stimulus Plans The US economy demonstrated resilience during the period, with GDP growth surprising to the upside. However, the growth rate remains below its trend level. Encouragingly, demand indicators also showed positive surprises. Notably, the strength of the US economy, despite significant interest rate increases, can be attributed to the stimulus plans announced by the Government, including the IRA, Chips Act, and… Read more
