Greetings,
Eurozone: The next shoe to drop could be Germany’s labor market.
United Kingdom: Credit quality continues to deteriorate for UK industrials.
The United States: Credit standards have been tightening.
However, small businesses appear to have no trouble accessing credit.
China: Rather than boosting spending in response to Beijing’s tax cuts, households have engaged in precautionary saving (second chart).
Emerging Markets: The yield curve for Mexico is now fully inverted (the whole curve is below the 3-month rate).
Food for Thought: Confidence by gender and age:
Edited by Devon Lall
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