Weekly Market Recap – April 29, 2024

Last week’s initial estimates of 1Q24 GDP revealed a complex picture. At the start of the year, expectations were set
for gradual declines in growth and inflation. However, the data showed a sharp deceleration in headline growth while
inflation, as measured by the personal consumption expenditures price index (PCE), accelerated on a quarter-to quarter basis. This has raised concerns about potential stagflation and its implications on interest rates and markets.

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