The United States: The contribution of consumer spending to GDP growth was the lowest it has been since the onset of the pandemic.
How will the latest banking stress impact GDP growth?
Equities: Stock-bond correlations are firmly in negative territory, with concerns about the banking sector and a potential recession overshadowing the monetary policy uncertainty.
The Eurozone: At the Eurozone level, online sales signal weakness ahead for total retail sales.
Canada: The CFIB small/medium-size business index showed an improvement this month.
Asia – Pacific: Australia’s credit growth has been slowing.
Food for Thought: Nearly daily mass shootings in the US:
The United States: The Dallas Fed’s manufacturing index continues to show slowing factory activity in the region.
The Eurozone: The real M1 money supply is signaling a deep contraction in business activity.
China: Policy easing has taken place within the context of a stronger Chinese yuan.
Equities: Investors are underweight US equities and overweight cash.
Alternatives: Here are recent PE portfolio company bankruptcies by sector.
Credit: After the CS wipeout it will be challenging to rebuild confidence in the AT1 market. This chart shows the yield on Bloomberg’s European CoCo index.
Cryptocurrency: Last week, crypto funds saw the largest inflows since July 2022.
Food for Thought: Lastly, the plant-based meat industry has been facing challenges.