Greetings,
United States: The moratorium on student debt payments ends in October. Many borrowers have stopped paying and are hoping for debt forgiveness. Absent such a policy change, we are likely to see delinquencies climbing back to pre-COVID highs and perhaps even higher.
China: Evergrande, China’s most indebted property developer, is trying to calm nervous investors.
Emerging Markets: Peruvian assets tumbled as Pedro Castillo (the leftist candidate) pulls ahead.
Stock market:
Commodities: Flows into broad commodity funds are surging.
Energy: Some options traders are betting on $100/bbl oil.
Food for Thought: Business investment over time:
Edited by Richard Holmes
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