Greetings,
United States: The market is still doubting the FOMC’s dot plot. Shorter and intermediate-maturity Treasury yields declined and the curve steepened.


Emerging Markets: The Turkish central bank cut rates again, sending the lira past 16 to the dollar. Is the easing cycle over?


Equities: Investors have been rotating out of cyclical stocks into defensives.

Commodities: Energy, base and battery metals have significantly outperformed the commodity complex so far this year.

Global Developments: Risk-taking has been supported by extraordinarily accommodative monetary conditions.

Food for Thought: Production costs of cultivated meat:

Edited by Devon Lall
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