The eurozone outpaced the US in growth last quarter, hitting 1.8% annualized versus the US’s 1.5%, while Canada surged at 3.4% despite global headwinds. The US slowdown, even with AI investments and lower oil prices, challenges the “Golden Age” narrative, as inflation remains stubbornly above target and savings rates decline. With the Fed holding rates steady and offering less guidance, bond markets brace for higher borrowing costs — a troubling sign for consumers and a ballooning government debt.
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