Capital Market Outlook

IN THIS ISSUE

• Macro Strategy — U.S. Economy At Stall Speed. Productivity Slowdown Entrenched: It is our assessment that real economic activity in the U.S. is at stall speed and vulnerable to shocks.
  
• Market View — The Next China: Women?: The collective global purchasing power of females could expand in the future if the right policies are put in place to create more global gender parity.
  
• Thought of the Week — Consumer Credit Reaches Platinum Status: A good indication of the deceleration in real demand growth is real final sales to private domestic purchasers.