(Harvest) Steady, broad-based U.S. growth implies a low probability of recession, although the tightening U.S. labor market is a sign of U.S. business-cycle maturity.
The global expansion remains relatively steady and synchronized across major economies.
The global financial markets have remained in a sweet spot amid steady growth, low inflation, and heavily accommodative monetary policies, and we continue to favor global equities.
US Cycle Maturing as Synchronized Global Expansion Continues
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