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The United States: The sharp decline in the Citi Economic Surprise Index points to downside risks in Treasury yields.
The Eurozone: The ECB is on track to cut rates next month.
The composite April PMI index has confirmed the Eurozone’s return to growth.
Commodities: Weather derivatives have become very popular.
Equities: The S&P 500 equal-weight index has been underperforming the capitalization-weighted index, while small caps have been outperforming, marking an unusual trend.
Rates: How much would yields need to rise to wipe out a year’s worth of interest income?
Global Developments: The Suez Canal ship transit volume has deteriorated further.
Food for Thought: Battery manufacturing overcapacity:
Edited by William Villacis
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