Greetings,
United States: According to JP Morgan, credit/debit card spending hasn’t been significantly impacted by the loss of unemployment benefits.
However, the situation could change if there is no additional stimulus after the White House program ($300/week) expires.
Japan: According to Barclays Research, Japan’s households “face a slide in disposable income due to the fading effect of fiscal support (cash handouts, for instance, represented 2.3% of GDP) as well as falling wages.”
China: Growth in industrial profits has accelerated.
Equities: The outperformance of the Nasdaq Composite has been remarkable.
US shares continue to widen their gap vs. global peers.
Credit: Large firms have been dominating corporate debt issuance this year.
Food For Thought: Companies with the largest market value in 2005 and 2020:
Edited by Daniel Moskovits
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