The United States: US labor force participation is returning to its secular trend (which is driven by aging population).
Global Developments: This chart shows the recent history of implied volatility in EM currencies, EM equities, and US equities.
China: Economists expect credit impulse to strengthen next year in response to the recent monetary policy easing.
The Eurozone: Does the Eurozone’s slower money supply expansion (see chart) point to weaker GDP growth ahead?
Equities: This chart shows the percentage of US-listed IPOs of unprofitable companies. The last time we were at these levels was during the dot-com bubble.
Energy: Brent crude is trading near $85/bbl for the first time in almost four years.
Some analysts are talking $100 oil again as supplies shift into deficit next year.
Emerging Markets: Investors are becoming less jittery about EM currencies. Here is JP Morgan’s EM currency volatility index.
Food for Thought: US teens’ favorite way to communicate:
Edited by Paul Menestrier
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