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United States: Last week’s softer economic data sent the Citi Economic Surprise index into negative territory.
Asia-Pacific: According to Natixis, Japanese banks have survived without passing on negative interest rates to their clients. To maintain profitability, they boosted their commissions by selling mutual funds and doubled their share of overseas loans and interbank investments.
China: Here is a forecast for Hong Kong’s GDP growth from Natixis.
Emerging Markets: The sharp rise in EM earnings per share (EPS ) sentiment since the end of July is starting to show up in positive EPS revisions.
Credit: The average coupon on US CCC-rated bonds is well below the average yield on outstanding debt, which raises refinancing risk.
Global Developments: More than 60% of the world’s central banks are easing, which is the highest share in a decade.
Food for Thought: Corporate diversity scores vs. stock performance:
Edited by Daniel Moskovits
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