The United States: Here is the explanation for the massive gap between the CBO’s federal budget projections and reality (including a forecast).
Equity Markets: The tech sector, together with financials, has dominated fund inflows in recent weeks. Given the rotation taking place now, this week’s flows data could look quite different.
Rates: Are fixed-income traders using AI to track the Fed officials’ micro-expressions for signs of policy direction?
Energy Markets: US net oil imports hit the lowest level since 1982.
Europe: The UK’s retail activity is trending lower, although the latest decline was driven by cold weather.
China: The Capital Economics’ China GDP tracker points to a meaningful slowdown this year. However, the ‘smoothed’ official GDP growth will decline very gradually.
Cryptocurrency: Bitcoin is no longer insulated from the traditional risk assets like stocks (or is it the other way around?).
Food for Thought: Which states benefit the most from the new tax bill?
Edited by Joseph N Cohen
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