Greetings,
United States: Consumer sentiment edged up this month, with the U. Michigan index topping forecasts.
Expectations of business conditions improved.
Eurozone: The recent decline in service inflation was driven by travel-related sectors, the impact of which is likely to be transient.
Europe: European banks’ underperformance has accelerated (nearly 30% year-to-date).
China: According to BCA Research, “Chinese households have added a total of 8.3 trillion yuan to their bank deposits so far this year, or about 8% of China’s 2019 national output.”
Equities: The S&P 500 closed below its 50-day moving average.
Call option volumes remain elevated.
Food For Thought: Changes in drug use since the start of the pandemic:
Edited by Daniel Moskovits
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