Week Ahead: Bank of Canada to reduce purchases; Global Economic Recovery to pickup
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The global economic recovery is gaining momentum as the world’s two largest economies continue to deliver robust economic readings. China’s economy grew 18.3% in the first quarter, a record rate that sets the example of what we can expect as the rest of the world recovers from COVID-19. The US saw weekly jobless fall to a pandemic low and retail sales explode after Americans put their $1,400 stimulus checks to work. US stocks are steadily making fresh record highs and that could continue if Treasury yields take their time in recapturing the highs made at the end of March.