Q4 GDP Growth Grips a "1-Handle"
Even though the economy is expanding, it is running below trend, which is disinflationary
Highlights
U.S. households are significantly under-invested in bonds…
… at a time when inflation expectations are retreating (bullish!)
Tobin’s Q remains elevated – yet another example of unattractive equity market valuations
Gilts rally on U.K. wage growth decelerating the most in nearly two years
