Greetings,
The United States: The real money supply (M2) is down sharply on a year-over-year basis.
This trend does not bode well for GDP growth.
The Eurozone: Electricity prices continue to hit record highs.
Asia–Pacific: Japanese equities look attractive relative to the US.
Emerging Markets: Producer prices are surging in South Africa.
Commodities: US lumber futures are trending lower amid weakness in the housing market.
Global Developments: July performance by asset class.
Food for Thought: Lastly, let’s take a look at households’ excess savings by income.
Edited by Alexander Bowers
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