Greetings,
Cryptocurrency: Crypto funds saw their first week of significant outflows since the post-US election influx.

Energy: European natural gas futures are tumbling amid rising LNG shipments.

Canada: Foreigners bought CAD 15 billion of government debt in December, marking the 15th consecutive month of net purchases.

Asia-Pacific: The RBA implemented its first rate cut of the cycle.


Equities: Growth companies have significantly greater international exposure than value companies.

Global Developments: Mortgage maturities are significantly shorter in many countries outside the US, leading to a potentially greater near-term impact from higher rates.

Food for Thought: US industries with the highest profit margins:

Edited by William Villacis
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