Greetings,
United States: Credit card delinquencies have been relatively low in recent months.
Credit/debit card spending has been flat since mid-June and remains more than 10% below last year’s levels.
China: China was the world’s third-largest source of foreign investment during the 2016-19 period, according to ANZ.
Emerging Markets: Turkey’s funding markets are under stress, with the overnight borrowing costs soaring.
Sovereign credit default swap spreads are elevated relative to other EM economies.
And the stock market has rolled over.
Commodities: US corn prices have fallen – despite higher purchases from China which is experiencing rising corn prices (2nd chart).
Important to note, the US-China deal review is coming up.
Equities: There have been quite a few ETN liquidations this year.
Food For Thought: Flexible options for employees:
Edited by Devon Lall
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