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The United States: For the first time, the average economist’s forecast (compiled by Bloomberg) shows less than two full Fed rate cuts by the end of the year.
CapEx spending has been tepid despite high profits.
Europe: Unlike in prior years, the SNB has been avoiding selling the Swiss franc to curb its rapid appreciation, opting to use rate cuts instead. Falling Swiss franc deposits suggest that the SNB is not buying foreign currency.
Emerging Markets: Mexico’s economic activity registered a pullback in April.
Commodities: Traders continue to boost their bets on gold futures.
Equities: The options market assigns a 30% probability of NVIDIA returning to its highs (of around $140) by the end of the year.
Credit: There has been a pickup in news stories mentioning US Chapter 11 bankruptcies.
Food for Thought: Lyme disease cases:
Edited by William Villacis
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