Global economic data this month was decidedly mixed. US GDP growth was 2.5% in the 1st quarter – better than the prior quarter but below expectations. Consumer spending increased in the 1st quarter largely to the detriment of saving. Business activity contracted in April while consumer confidence rose. Home prices added an impressive 9.3% in February. US inflation, however, is still quite low (PCE at 1.1%). In Europe, inflation is also low (1.2%) and unemployment rates are rising. Amid these mixed signals, what are central bankers to do? Well, there are two very clear signals globally: low inflation and high unemployment. Therefore, the market seems convinced (and logically so) that the Fed and the ECB will be staying all-in and are possibly set to increase easing measures.