Many investors watch the Leading Economic Index as a measure of the U.S. economy’s expected health over the coming three to six months. It improved in April, and our first article this week details the economic growth in graphs. Next, we turn to the rally in equities and what risks investors may be taking by fueling the surge. We conclude with a look at the drama over the U.S. debt ceiling, which is expected to play out this fall.

U.S. Economic Gauge For Near Term Turns Up In April–  The economic numbers are in from the Conference Board and April of 2013 brought news of growth. The Board’s index of leading economic indicators rose 0.6% last month after slipping 0.2% in March.

Are Equity Investors Pushing the Gas Pedal Too Hard? – Norm Boersma, CFA, chief investment officer of Templeton Global Equity Group, takes a look at the rally in equities. While some major market averages have accelerated rapidly, investors are finding that many of the cheapest markets in the world are european. Despite the political volatility there, the fact that europe has the most sustainable fiscal position of any major western region tempts investors to take the risk.

Debt Ceiling Drama Delayed Until FallHigher tax receipts and lower government spending are two reasons the summer showdown over the debt ceiling can be put off until after Labor Day. Michael Townsend of Charles Schwab & Co. summarizes the key points surrounding this issue.

We hope you enjoy reading these articles along with us and that you find them informative.  Please forward this to your friends and family.

John R. Day, Bill Ennis and Stephanie Davidson


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