Greetings,
United States: The recent curve inversion has been shorter and shallower than the previous ones. This chart shows the spread between the 10yr Treasury and the fed funds rate.
The United Kingdom: Households’ liquidity growth points to a rebound in consumption.
China: Chinese local governments have quite a bit of debt to refinance next year.
Equities: The percentage of companies beating earnings estimates is at the highest level since 2006.
The percentage of small caps that are unprofitable keeps climbing (particularly in sectors such as biotech and energy).
Global Developments: Rate differentials between the US and other economies suggest that the dollar should be weaker.
Food for Thought: Economic mobility gap:
Edited by Daniel Moskovits
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