The United States: How did the various economic metrics respond to natural disasters in the past?
Credit: Small corporate loans (under $100mm) have been experiencing lower default rates. This is partially due to smaller firms having limited access to leverage.
Equity Markets: We are in for a volatile Tuesday as North Korea lobs a missile across the skies of Japan. The concern now is whether we will see more “fire and fury” from the Trump administration.
S&P 500 futures:
China: This chart shows the sector breakdown for offshore dollar-denominated bonds issued this year. A rising renminbi is helpful for these issuers (reducing their liabilities in CNY terms).
The Eurozone: The euro keeps climbing.
Emerging Markets: India has the highest real rates among its Asian peers. Will the RBI consider further rate cuts soon?
Energy Markets: With a good portion of US refinery capacity closed for business due to Hurricane Harvey, demand for US crude oil has fallen. NYMEX crude futures tumbled.
Food for Thought: In a market share grab, Amazon has “solved” the Whole Foods’ key problem: high prices.
Edited by Joseph N Cohen
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