Headlines discussed at LNWM’s Monday morning briefing:
— US job growth was strong in April, with 263,000 new jobs added and moderate wage gains (3.2% annualized); stocks hit all-time highs.
— The productivity of US workers jumped 3.6% in 1st quarter 2019; now at 2.4% for the past 12 months, after averaging just 1.3% since 2007.
— Housing prices in 20 major US cities rose just 3%, on average, for the 12 months ended Feb. 2019; slowest annual increase since 2012.
— UK factory exports tumbled in April, although still in expansion mode; concerned about a chaotic Brexit, buyers are looking elsewhere.
— Growth in Asian economies is likely to stay relatively high in 2019 — 5.7% on average — despite headwinds, per the Asian Development Bank.
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