A deal to raise the U.S. debt limit has finally been reached. But investors still have to contend with sticky inflation and higher interest rates.
Japan stocks are proving irresistible to investors this year, especially after Warren Buffett publicly endorsed the country's market in April. Some fear the current rally is reminiscent of the bubble in the 1990s — but there areA deal to raise the U.S. debt limit has finally been reached. Take a deep breath — but don't relax fully just yet.
Still, that Biden and McCarthy have hashed out a preliminary deal should give investors confidence to put aside worries of the U.S. defaulting and return their focus to markets and the broader economy. Inflation is still uncomfortably high. In fact, going by the PCE report, consumers spent more on goods and services in April than in March. This suggests inflation isn't high and moderating — as the, another inflation reading, stated — but is high and increasing. Indeed, the PCE report showed spending jumped 0.8%.
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