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If it’s not stocks, it’s bonds!
In a turnaround worthy of Bruce Willis in a ‘Die Hard’ movie, expectations for second quarter’s corporate earnings growth soared from below expectations, on average, in the previous week to beating expectations last week. Earnings growth estimates shot up to 4.1 percent which was a significant change from last week’s 2.8 percent. Of the companies that have reported so far, more than one-half have performed better than expected – an improvement on the last four quarters’ performance.