Greetings,
The United States: Here is a look at Fed rate cut probabilities at this year’s FOMC meetings.

China: The S&P Global China Manufacturing PMI:


Commodities: Gold is trading at a premium on the Shanghai Exchange relative to the US-based Intercontinental Exchange (ICE), and ETF holdings have diverged between the two markets.

Cocoa futures saw a sharp pullback on Monday.


Equities: In the current earnings season, EPS surprises have been the highest since 2021 (so far).

Global Developments: Leading indicators continue to signal an acceleration in global factory activity.


Food for Thought: Largest health insurers’ revenue as a share of US health spending:

Edited by William Villacis
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