Greetings,
The United States: The market has been betting against the FOMC dot plot.
Canada: The market expects the next BoC move to be a rate cut.
China: As China’s economy reopens, consumers are opening their wallets (2 charts).
The Eurozone: Germany’s GDP unexpectedly declined last quarter.
Equities: Earnings misses have been resulting in outperformance so far. Too much enthusiasm?
Rates: Treasury futures positioning is extraordinarily bearish.
Food for Thought: Here are tech layoffs by sector:
Edited by William Villacis
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