IN THIS ISSUE

• Macro Strategy – Still Waiting for Europe: Two Years Post-Draghi Report: Europe continues to lag the U.S. as limited reform progress, growing China competition, energy challenges, weak productivity, and slower Artificial Intelligence innovation weigh on its economic outlook.
  
  
• Market View – No More Surprises—Six “Surprises” That Shouldn’t Surprise Investors: Despite persistent global concerns, the resilience of the U.S. consumer, economy, dollar, corporate sector, and financial system continues to support long-term market strength.
  
  
• The Ticker Tape – Top Questions Answered Directly by Our Chief Investment Officer (CIO).