The United States: According to Bloomberg, the market still expects another rate cut next year (chart below). Some economists see more than one (second chart).
Asia-Pacific: Japan’s tax hike and a super-typhoon have resulted in the biggest monthly drop in retail sales in recent history.
Emerging Markets: Which EM countries are most exposed to “risky” foreign private holders? (Argentina, Chile, South Africa, and Uruguay).
Commodities: Gold is increasingly correlated to long-term Treasuries.
Equities: The S&P 500 forward (12 months) consensus P/E ratio is pushing toward 18x for the first time since the vol blowup of early 2018.
Here is the same indicator for small caps.
Food for Thought: Democratic presidential nomination odds in the betting markets:
Edited by Daniel Moskovits
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