QQEW - What Do The Latest PMI Surveys Suggest About The Global Economic Recovery?

• One of the key takeaways from the chairman’s testimony is that the Fed is still willing to be very patient and keep its easy-money policies in place for now, despite the recent upgrades to its growth and inflation outlooks.
• Switching to the sizzling housing market, Kshatriya characterized the rapid increase in home prices over the past year as an interesting phenomenon impacting much of the globe.
• New flash PMI numbers for June, recently released by IHS Markit, confirm the strength of the U.S. economy, in addition to that of several other key regions, Kshatriya noted.

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