Greetings,
The United States: The US working-age population growth is expected to contract further in the next few years. As a result, some suggest that even a 2% GDP growth will be challenging without significant improvements in productivity.
Emerging Markets: A quote from Turkey’s Recep Tayyip Erdogan showing incredible ignorance:
The interest rate is both the mother and the father of the inflation. Those who don’t know this, they should. Anyone attempting to act against this would find me facing them.
This is not going to end well for Turkey.
Credit: Leveraged companies will be refinancing at significantly higher rates over the next few years.
Energy Markets: US refinery inputs remain above the 5-year range.
Europe: The EU is struggling with low birth rates, which will be a significant drag on economic growth.
China: Traders are betting on a further strengthening in the renminbi over the next 12 months.
Capital Economics, however, expects the nation’s currency to weaken.
Cryptocurrency: Here is the Google search frequency for “crypto is dead.”
Global Developments: Global trade volumes are still rising.
Food for Thought: Opioid prescription rates are down in most of the country.
Edited by Joseph N Cohen
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