Greetings,
The United States: The dollar and President Trump’s approval ratings have been correlated. Both indicate the level of confidence in the “reflation trade.”
Credit: Corporate investment-grade fund inflows continue (the first chart below is ETPs, the second is mutual funds).
Europe: Elsewhere in Europe, the UK has a massive age gap in national priorities.
Emerging Markets: Brazil’s business activity moves into expansion mode (PMI > 50).
Equity Markets: A small biotech firm changed its name to Riot Blockchain and here is the result (below). Some readers may remember companies adding a “.com” to their name in the 90s.
Energy Markets: NYMEX crude closed below $50 despite what appears to be a bullish report from the Department of Energy. The weekly inventory draw was larger than expected.
And stockpiles remain below last year’s level.
Food for Thought: People in Latin America score highly on the self-reported life satisfaction index (relative to their country’s GDP per capita).
Edited by Paul Menestrier
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