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Europe: Riksbank cut rates for the first time since 2016, sending the krona lower.
Equities: VIX typically rises leading up to US elections and then declines
Credit: High-yield spreads appear too tight relative to Treasury market implied volatility.
Commodities: Funds have been rotating between softs and grains, pushing the correlation deeper into negative territory.
China: China’s real estate slump mirrors the US GFC experience.
Emerging Markets: Argentina’s recession deepens, with industrial production and construction activity down year-over-year.
Food for Thought: Comparison of wage growth for union and non-union workers in the private sector:
Edited by William Villacis
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