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The PCIA Research Team has been hard at work, poring over the latest market data so that we can deliver our best insights to you. Take a look at the latest report covering what happened in the month of May 2024. You will find quick facts and in-depth details on what has occurred, what that means for you and what’s ahead in the market and economic environment. Download the newest edition of the Month-in-Review below!

Quick Takes

  • Risk Assets Rebounded In MayAfter April’s losses, all asset classes delivered positive returns, with strong performances from large cap stocks and developed and emerging markets. However, year-to-date, U.S. and international bonds, along with real estate, remain in negative territory.
  • Inflation Shows Signs of Cooling. Core inflation showed promising signs of cooling, with declines in durable goods prices and moderations in health care and housing costs. Despite some lingering price pressures, recent trends indicate a gradual disinflation process, prompting the Fed to take a cautious stance and await more data before considering rate cuts.
  • The Dollar’s First Decline of 2024. Disappointing GDP data and mounting “debt cliff” worries triggered a decline in the U.S. dollar index, its first this year. Rising bond yields, as investors demanded higher returns to hold U.S. treasuries, further pressured the dollar. This benefitted precious metals, pushing their prices up.
  • Job Growth Surges, Unemployment Rises. The May jobs report showed an increase of 339,000 jobs, with strong gains averaging 283,000 over the past three months. The unemployment rate rose to 3.7% from 3.4% in April. Average hourly earnings increased by 0.3% for the month, reflecting a 4.3% annual growth.

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This article is not to be construed as financial advice. It is provided for informational purposes only and it should not be relied upon. It is recommended that you check with your financial advisor, tax professional and legal professionals when making any investment or any change to your retirement plan. Your investments, insurance and savings vehicles should match your risk tolerance and be suitable as well as what’s best for your personal financial situation.

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