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The United States: Fewer companies are mentioning labor shortages and labor costs on earnings calls.

Asia-Pacific: Asian currencies have been rallying against the dollar.


Energy: Gasoline futures continue to sink, signaling lower prices at the pump.

Equities: Companies started discussing the election much earlier in this cycle than in previous ones.

Credit: High yield spreads are tight relative to the Treasury market implied vol.

Global Developments: Global economic surprises have deteriorated.

Food for Thought: Market share of major US grocery retailers:

Edited by William Villacis
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