Greetings,
The United States: The unemployment rate held steady.
The United Kingdom: The current level of fiscal loosening is the highest since the pandemic.
Commodities: Speculative accounts have shifted to a net long position in US corn futures.
Equities: The outperformance of cyclicals over defensives has diverged from the ISM Manufacturing PMI.
Rates: The Fed’s RRP facility balance hit the lowest level since 2021 as money market funds find better value in T-bills.
Food for Thought: Americans of Puerto Rican origin:
Edited by Josh Oldmixon
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