Greetings,
The United States: The Augur high-frequency inflation tracker remains subdued for now.
China: Industrial production exceeded expectations, supported by base effects.
Europe: UK home price gains remain subdued.
Equities: On a long-term basis, the US equity-bond correlation has trended more positive since COVID.
Credit: European leveraged loans have staged a solid recovery this month.
Global Developments: Investor sentiment flipped sharply in May, with soft-landing expectations rebounding to 61%—their highest since early 2024—while hard-landing fears dropped to 26%, nearly halving from April.
Food for Thought: Auto imports into the US by manufacturer in 2024:
Edited by Josh Oldmixon
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