When you check across the mega macro inputs that feed into your markets outlook... 

1/ global GDP 2.8% (30bps > consensus), 

2/ US GDP 2.6% (60bps > consensus), 

3/ China GDP 4.8% (30bps > consensus), 

4/ Euro area GDP 1.3% (20bps > consensus), 

5/ an ongoing acceleration in productivity growth (great for earnings, more questionable for the labor market),