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United States: The rebound in retail sales has been impressive, but economists are concerned about the overall consumption growth. The charts below show high-frequency spending data
Eurozone: The Q2 GDP contraction was unprecedented in recent history.
Pantheon Macroeconomics and other economists expect a much slower recovery than the ECB’s estimates.
Commodities: Speculative accounts cut back their bets on gold last week.
Equities: Q2 was one of the biggest earnings surprise quarters in history.
Rates: The Aussie dollar, a proxy for global economic activity, has sharply diverged from Treasury yields.
Food For Thought: COVID-19 cases and deaths in the US vs. other advanced economies:
Edited by Daniel Moskovits
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