The United States: Trade policy uncertainty has reached new highs.
United Kingdom: The UK stock market took the biggest one-day hit in years. While the decline was part of the global selloff, some investors were also unnerved by the possibility of an administrative border between Northern Ireland and the rest of Great Britain (Boris Johnson’s proposal).
Hong Kong: The economy is in a recession. Retail sales are down 23% from a year ago.
Emerging Markets: The rotation into emerging market bonds and out of emerging market equities continues.
Energy: Here is the world electricity generation forecast by fuel type.
Rates: The 3-month Treasury bill yield (blue) is now above yields offered by other developed economies (min/max yield range shaded in red). According to Arbor Data Science, the US 3-month yield tends to peak 1-3 years before the rest of the world, often leading to periods of economic weakness and/or recession.
Food for Thought: President Trump’s approval rating, by poll type:
Edited by Daniel Moskovits
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