The United States: The US could be running a $2 trillion annual budget deficit in less than a decade. That’s a lot of new debt for the market to absorb each year.
Equity Markets: Proforma earnings add-backs for M&A deals have risen sharply in recent years.
China: The China SMI report for this month shows strong economic activity continuing while prices climb. Manufacturing looks particularly strong.
Credit: The P.F. Chang Bistro bonds are tumbling amid a downgrade by S&P Global. See “further reading” for more detail.
Cryptocurrency: Is Bitcoin repeating the dot-com bubble’s trajectory?
The Eurozone: Private investors hold only 10% of German government bonds. It’s impressive that this market functions at all.
Food for Thought: An updated map of opioid costs.
Edited by Joseph N Cohen
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