United States: Sentiment among higher-earning Americans tumbled in recent weeks but is holding steady among those making under $50k. This trend does not bode well for consumer spending.
United Kingdom: The BoE hiked rates again but struck a cautious tone. The central bank sees stagflation setting in.
Emerging Markets: Turkey’s CPI hit 70%.
Energy: The number of newly approved drilling permits has increased to record high levels, which typically leads production by six-to-twelve months.
Equities: Next, let’s take a look at how institutional investors are allocated across sectors vs. long-term averages
Also, here are the year-to-date returns by asset class.
Food for Thought: The decline in middle-class income share.
Edited by Alexander Bowers
Contact the Daily Shot Editor: Brief@DailyShotResearch.com