Inflation Sinks Further

Week ending Friday September 29th 2017 The last week in September capped one of the most stable months on record for US-focused markets, with the S&P 500 posting the lowest volatility on record by some measures. Intuitively, our nominal GDP forecast was steady through September, reflecting both the importance of equity prices in the forecast as well as stability in other market inputs. Markets There wasn’t too much to note from markets for the week. Shares rose a bit, the five- and ten- year yields rose about 8 basis points, WTI oil gained 2% while the dollar index was about…

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