Greetings,
China: The nation’s central bank (PBoC) injected a huge amount of liquidity into the financial system as the markets reopened after the Lunar New Year holidays.
The PBoC wanted to make sure there is ample liquidity for banks to keep rolling their liabilities (cash borrowed before the holidays).
The United Kingdom: Foreigners bought a massive amount of gilts after the elections.
United States: The Chicago PMI index was shockingly weak, suggesting that the Midwest manufacturing slump persisted through January.
However, the indicator seems to stand out, with all the regional Fed factory gauges improving last month.
Equities: According to BMO, EPS growth has historically been a poor predictor of returns.
Rates: The US yield curve inverted last week.
Food for Thought: Retirement age:
Edited by Daniel Moskovits
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