Greetings,
The United States: The US is importing some disinflation from China.
Economic surprises have been positive for hard data, while soft data (surveys) has been lagging.
Equities: Intraday volatility has been moving lower.
The Eurozone: The ECB’s policy transmission has been less effective than in previous cycles as banks keep deposit rates depressed.
Japan: The BoJ’s JGB holdings declined sharply over the past month.
Commodities: Industrial commodities got a boost from the US dollar weakness last week.
Food for Thought: The luxury watch market (a classic bubble):
Edited by William Villacis
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