Greetings,
The United States: To start, the FOMC dot plot was hawkish, with projections pushed well above market expectations for the end of 2023.
In the housing market, affordability is deteriorating rapidly as mortgage rates continue to surge.
The United Kingdom: The pound is hitting multi-decade lows vs. USD.
China: The World Economics SMI report shows further deterioration in China’s business activity this month.
Canada: Here is the share of CPI items outside of the BoC’s target range.
Energy: US gasoline demand has softened despite lower prices.
Rates: SOFR derivatives are taking off.
Food for Thought: Lastly, here is a visualization of the income statements of the largest US tech firms:
Edited by William Villacis
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