Greetings,
Canada: These charts from Oxford Economics show the growth and composition of households’ excess savings.
China: Variant Perception’s China leading indicator has been held up by external factors, even as domestic liquidity data has slowed materially.
Emerging Markets: Investment in India’s tech sector hit a new high last quarter, driven by the US.
Energy: OECD oil inventories are below the 5yr average and headed lower.
Equities: Stocks that perform well in a rising inflation environment have underperformed substantially in recent weeks – despite the upside CPI surprises.
Food for Thought: CEO-to-worker pay ratio by industry:
Edited by Richard Holmes
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