The United States: Supply chain pressures are relatively low despite the Suez Canal fiasco.
The Eurozone: It is rare for the ECB to cut rates when stocks have not been declining for several months.
China: China’s disinflationary pressures persist, partly reflecting weak domestic demand. In January, the CPI had its biggest year-over-year decline since the GFC.
Equities: Small-cap underperformance widened in recent days, exacerbated by pressure on smaller banks.
Rates: A record-high 10-year note auction was met with solid demand on Wednesday, sending yields lower.
Commodities: Cocoa futures hit a record high, taking out the 1977 peak.
Global Developments: According to JP Morgan Global Research, 56% of central banks will be easing by the time the Fed starts cutting rates.
Food for Thought: Public pensions investing in China:
Edited by William Villacis
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