Peak growth and inflation remain center stage

Global equities were mostly lower last week, with the notable exception being emerging markets, which added 1.7% thanks in large part to a positive surprise from Chinese exports. The DJIA, S&P 500 and techheavy Nasdaq lost 0.5%, 1.0% and 1.9% (respectively) on concerns over slowing growth, while the MSCI EAFE fell 0.5%.