Greetings,
The United States: US private investment is expected to tumble next year, driven mostly by stalling residential construction.
Much of the Treasury curve is now inverted.
China: The housing surplus is massive.
Emerging Markets: Bond fund outflows have been most severe in local-currency debt.
Energy: Russian oil output has been resilient.
US residential electricity prices are very high.
Equities: The put/call ratio hit the highest level since 1997. Short-term options volume has exploded.
The Philly Fed’s manufacturing index is signaling a sharp decline in earnings expectations.
Food for Thought: Lastly, here’s a look at life satisfaction by age.
Edited by Alexander Bowers
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