Greetings,
The United States: Oxford Economics is forecasting weaker business investment growth going forward.
China: China’s domestic bond issuance has slowed.
The Eurozone: Investors are concerned that the new Italian government will embark on a more expansionary fiscal policy. The political parties in charge are still very popular.
Here are some debt-to-GDP scenarios.
Equity Markets: The Merrill Lynch Fund Manager Survey shows that fewer investors expect profits to improve. That’s inconsistent with cyclicals outperforming defensive shares.
Global Developments: What do export volumes in emerging markets tell us about the global GDP growth?
Emerging Markets: Fund managers’ allocations to EM equities are not near the crisis lows. Is there room for a further selloff?
However, EM equity valuations relative to the S&P 500 suggest that the underperformance is over.
Food for Thought: The share of Americans who are uninsured or have struggled with healthcare affordability:
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Edited by Joseph Cohen
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