The United States: Let’s begin with the CPI (Consumer Price Index) report, which was a bit softer than the market was expecting. These inflation figures are unlikely to deter the Fed from cutting rates again this month (the market is assigning a 78% probability that it will do so). Here are the monthly changes in the core CPI.
United Kingdom: The pound jumped on news of a possible pathway to a Brexit deal.
The Eurozone: The spread between the German and global manufacturing PMIs (Purchasing Manager’s Index) is now the widest on record.
Energy: The US is now a net exporter of crude oil and refined products.
Credit: High yield has been underperforming relative to investment grade this year. However, based on easier credit conditions, analysts expect the gap to narrow. (LQD = investment-grade ETF, HYG = high-yield ETF, IEF = intermediate-term Treasury ETF).
Food for Thought: Student debt per student:
Edited by Daniel Moskovits
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