Greetings,
United States: Long-term market-based inflation expectations are grinding higher.
China: Exports accelerated last month, exceeding forecasts.
The trade surplus hit a record high.
Commodities: Gold outflows have been extreme.
Equities: Citi’s sentiment index is deep in euphoria territory.
Global Developments: This chart shows how speculative accounts are positioned in currency futures.
Food For Thought: Tesla’s market value vs. the next four largest automakers combined:
Edited by Daniel Moskovits
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