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As we likely near an inflection point in interest rates, adding a modicum more bond and fixed-income exposure is being considered.

It was a good week for the markets.

To wit, 1st Quarter GDP estimates were revised UP to an annualized pace of 2.0%. Importantly, this growth is above and beyond the impact of inflation.

Jobless claims have notably ticked up the past three weeks while average employee hours worked is declining. In conjunction, these raise the prospect of recession. Luckily, any recession is likely to be mild.

Though the Fed didn't raise rates this week, it nonetheless INCREASED forward rate expectations through year-end. It was an odd decision. Markets ripped higher revealing widespread skepticism of the official outlook.

... all lead to a good week for the markets.

This technology is real, and it will be transformative for society. As Nvidia demonstrated this week, demand for the technology driving this revolution is also real. How are client portfolios exposed?

Both the Democrats and the Republican budged from their entrenched stances this week, leading Republican House Leader Kevin McCarthy to say he saw "a path... to agreement".

A sustained spike in weekly jobless claims may well be RBC's preferred leading indicator of recession. This week's data certainly seems to be trending in that direction.