The U.S. stock market climbed the proverbial wall of worry in May. The month started with fresh rounds of concern about U.S. regional banks (First Republic closed on May 1st), another rate hike by the Federal Reserve in the middle of the month, and intense negotiations around the U.S. debt ceiling towards the end of the month. Here are 3 things you need to know:
Sources: J.P. Morgan Asset Management – Economic Update; Bureau of Economic Analysis (www.bea.gov); Bureau of Labor Statistics (www.bls.gov); Federal Open Market Committee (www.federalreserve.gov); Bloomberg; FactSet.
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