Greetings,
United States: US consumers continue to cut back on their credit card balances. Revolving credit is down almost 12% from the same time last year – a record drop.
Eurozone: Market-based inflation expectations for the US and euro-area have diverged in recent months.
Energy: The attack on Saudi oil facilities sent Brent futures sharply higher. Will we see an escalation of hostilities in the region?
Equities: Retail investors are flooding into the market.
Put option volumes have picked up as some caution returns to the market.
Credit: US high-yield bonds have been outperforming investment-grade on a spread basis. Here is the spread ratio.
Food For Thought: The new COVID variant:
Edited by Daniel Moskovits
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