United States: Several Disappointing Indicators
The lack of vigour in U.S. retail sales is once again disappointing. Considering the second decimal point in the monthly changes, this marks the first time since winter 2015 that sales have recorded two consecutive declines, excluding automobiles and gas. This situation contrasts with the level of household confidence indexes.
Federal Reserve (Fed): One Small Step Closer to the Normalization of the Balance Sheet
- The Committee decided to maintain the target range for the federal funds rate at 1.00% to 1.25%.
- The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate.
- The Committee expects to begin implementing its balance sheet normalization program relatively soon, provided that the economy evolves broadly as anticipated.
At the end of May our portfolio manager, Wellington, presented us with a synopsis of its investment strategy for the Desjardins Global Balanced Strategic Income Fund.
Learn more about their total-return-driven solution in response to the challenges faced by today's investors.