The United States: Morgan Stanley is forecasting 4.7% GDP growth for the second quarter. Massive soybean exports ahead of China’s retaliatory tariffs boosted net exports (light blue).
The Eurozone: Germany’s Ifo business climate index showed increasing uncertainty. The spread between the current situation measure and business expectations continues to widen. The biggest concern, of course, is trade (lower left). However, German construction activity spiked (lower right).
Ifo’s expectations index is the key one to watch because it’s a leading indicator for Germanys GDP growth.
Global Developments: Signs continue to point to slower international trade activity.
Equity Markets: Established firms now dominate the robo-advisory business.
Emerging Markets: Ruble options traders don’t seem to be concerned about the possibility of additional Russia sanctions.
Food for Thought: Multiple job holders
Edited by Joseph Cohen
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