The United States: Most FOMC members now see the risks to the GDP and inflation as “broadly balanced.”
Asia: Asia’s financial conditions have tightened substantially.
Global Developments: The average unemployment rate in the OECD nations is at the lowest level in decades.
Equity Markets: Merrill Lynch’s private clients still hold extremely low levels of cash and …
… run high-beta portfolios.
Emerging Markets: This chart shows the changes in credit spreads since the beginning of the year.
Food for Thought: US car imports over time:
Edited by Joseph Cohen
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