United States: The CPI report surprised to the upside – again. Both the headline and the core inflation measures easily topped forecasts.
Emerging Markets: South Africa’s violent protests are putting some pressure on the rand.
Equities: Global ex-US earnings typically outperform when world trade is strong.
Rates: Expectations for a steeper yield curve have peaked, according to BofA’s fund manager survey.
Global Developments: Implied volatility across markets has fallen below the 3-year median.
Food for Thought: Income, wealth, and debt by generation:
Edited by Richard Holmes
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