Greetings,
The United States: The Conference Board’s leading index declined again in January. Here are last month’s drivers.

The market-implied terminal rate is up some 40 bps this month.

The Eurozone: Consumer confidence continues to rebound.


China: Road congestion surged as the country reopened.

Equities: There is a lot of uncertainty about the stock market trajectory this year.

Credit: Global high-yield bond spreads are too tight.

Commodities: Here is last week’s performance across key commodity markets.

Food for Thought: To conclude, here is US adult population growth by age:

Edited by William Villacis
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