The United States: A 0.25% Fed rate hike this week is now fully priced into the market.
The Asia – Pacific: South Korea has been losing market share to China in automobile exports to the US. With the new tariffs against China, however, South Korea could regain some ground.
China: Demand for micro-EVs is outpacing the market for full-size electric vehicles.
The Eurozone: Lending to households remains robust..
Equities: While many investors don’t want to face it, the escalating US-China trade war is not going away anytime soon.
Global Developments: Speculative accounts boosted their bets on the dollar last week.
Emerging Markets: This chart shows the overall EM trailing price-to-earnings ratio vs. the S&P 500 (LTM = “last 12 months”). EM stocks haven’t been this undervalued relative to the US in quite a while.
Food for Thought: Colombian coca output:
Edited by Paul Menestrier
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