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US Watch

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March came in like a lion and went out like a lamb. As far as the weather is concerned, it was mostly true. Fierce winter weather has given way to spring weather in most of the country, with the exception of a stray storm here and there. As far as the economy is concerned, it was just the reverse. Some of the economic news stemming from bad weather faded. Optimism about the sustainability of the recovery grew again. March was also the month of transition for the Fed. The kerfuffle around Chairwoman Yellen's statements led to some shortlived panic that has since been smoothed over.

Consumer confidence appears to be rebounding as stock markets reach for dizzying heights, home prices continue to rise and Congress stays out of the way. Labor market recovery also seems to be back on track as jobless claims trend back down after a particularly volatile few months. Even the banks are on the mend, with the majority passing stress tests. Spring is definitely in the air, unless spring showers aka rising mortgage rates douse the nascent housing recovery, or the lack of meaningful increases in wages stalls consumer spending.

Source : CBRE Global Investors