The United States: Which sectors could be impacted by higher prices due to the new tariffs on products from China? Which sectors will be hurt by China’s trade retaliation?
Equity Markets: The consensus forward P/E ratio for the S&P 500 dipped below 17x again. When will the analysts begin revising their forecasts down in response to the trade-policy headwinds?
Rates: Are longer-dated Treasury yields too high relative to the economic surprise indices?
What about relative to the copper-to-gold rato?
Energy Markets: US natural gas production continues to climb.
The Eurozone: The German Ifo business climate index showed deterioration while the spread between the current conditions and business expectations widened to a new record.
Here is the detail by sector.
Food for Thought: Google, Facebook, and Apple vs. the market index capitalization in other large economies.
Have a great weekend!
Edited by Joseph N Cohen
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