The United States: Here is Goldman’s Current Activity Indicator (CAI) for the US.
The Eurozone: There is still a deficit of new Eurozone bonds in the domestic private debt market.
Rates: Swap spreads continue to recover (more on the topic later).
Here is a note from Jim Vogel (FTN Financial).
Swap spreads are widening as a factor of 1) decrease in seasonal bill supply changing the short end; 2) rich Treasury valuations; and 3) reduced corporate issuance.
Equity Markets: Investors should expect a boost in M&A and share buybacks this year.
Global Developments: Who owns each country’s debt?
Food for Thought: Americans and Canadians are increasingly choosing trucks over cars. Will the situation change if gasoline prices climb further?
Edited by Joseph Cohen
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