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The United States: Credit card balances as a share of disposable income are nearing pre-COVID levels, while total consumer credit relative to income has been trending downward.
The downtrend in core CPI remains intact.
The Eurozone: Economists expect an 85 bps ECB rate cut in total by the end of the year.
China: State-owned banks have been assisting Beijing in supporting the renminbi, resulting in significant losses for these institutions.
Cryptocurrency: Bitcoin has posted declines in seven of the last twelve Septembers.
Rates: The market is pricing in over 250 bps of rate cuts before the Fed pauses its easing cycle.
Global Developments: Treasuries and base metals are pricing in higher odds of a recession.
Food for Thought: Actual and effective corporate tax rate for S&P 500 companies:
Edited by William Villacis
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