Up and Adam

Raymond James analyzes key indicators including 1Q26 GDP revisions, mixed retail earnings, and China's tech-led industrial surge. The report highlights seasonal strength in municipal bonds and sticky gasoline prices despite falling crude oil.

Key Takeaways

• 1.The second estimate of 1Q26 GDP is expected to hold at 2.0%, but revisions regarding consumer spending and defense outlays will be critical for assessing 2Q growth acceleration.
• 2.China's industrial profitability surged 24.7% in April, driven largely by the technology and electronics sectors, reinforcing a preference for EM Asia equities.
• 3.Municipal bonds are entering a seasonally strong period with reinvestment flows expected to peak in June at approximately $51 billion.

Table of Contents

• 1Q26 GDP Second Estimate At 8:30 AM ET: Focus On Potential Revisions
• Another Busy Week Of Retailer Earnings Paints A Mixed Picture Of Consumer Spending
• Tech Strength Propels Expansion In China's Industrial Profitability
• Munis Hold Ground At The Start Of A Seasonally Strong Period
• With Summer Travel Season Underway, When Can Drivers Expect Relief At The Pump?
• Disclosures

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