Economy

• Softer inflation has encouraged investors to expect a more accommodative path for interest rates.

• Global currency markets remain volatile as investors reassess U.S. interest-rate expectations following softer inflation data.

• Strong corporate earnings are helping offset concerns surrounding global conflicts and slowing economic growth.

• Professional investors are increasing exposure to global equities while reducing cash holdings.

• Investors increased expectations that the Federal Reserve could continue easing monetary policy over the coming months.

• Global money market funds continue holding record levels of investor assets, approachingUS$8 trillionin the United States.

• Global financial markets are entering a crucial phase as investors assess whether the current rally can continue.