- Against the backdrop of natural catastrophes, civil unrest, and resurgence of sovereign debt fears, equities proved resilient, providing strong gains for the first quarter.
- Traditional bonds were also fractionally positive in the first quarter, even as the yield curve steepened.
- Rising food and energy prices pushed headline inflation higher in March. Updated GDP figures revealed that economic growth accelerated in the fourth quarter boosted by strong personal spending.
- The labor market continues to show improvement with stronger job growth reported from private employers and a clear downward path in the unemployment rate over recent months.
Of Austerity and Unrest: A Season of Change
It has been some time since we’ve witnessed events of such historical importance unfold in such a brief period of time and across such a wide geographic area as have transpired in the past three months. From natural disasters to revolutions, civil war to a nuclear disaster, the world has been buffeted by a series of events since the beginning of the year that have created fear, uncertainty, and reinforced the fact that we live in an ever-changing, globally connected world.
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