IN THIS ISSUE

• Macro Strategy – Stronger Growth, Costlier Money: Revised data show the U.S. economy remains resilient with stronger growth and productivity, though persistent inflation pressures and rising bond yields continue to pose risks.
  
  
• Market View – Yields, Yen and Iran: What Haunts the “House”: Despite pressure from a weaker yen, rising Treasury yields, and elevated geopolitical risks, resilient corporate earnings continue to support a constructive market outlook.
  
  
• Thought of the Week – When It Comes to Attracting Foreign Capital, the U.S. Remains Exceptional: Strong foreign investment flows underscore continued confidence in U.S. assets and the U.S. as a destination for business and capital.