Greetings,
United States: Mortgage applications to buy a home typically decline this time of the year. Instead, we got an increase, with the purchase index now well above 2019 levels.
Housing demand remains exceptionally strong.
Euorzone: Bund yields jumped on Wednesday.
Longer-term inflation expectations are grinding higher.
China: Construction activity has been moderating.
Energy: US gasoline demand is back at the top of the seven-year range.
Equities: Strong and stable earnings growth helps explain higher valuations on US shares relative the rest of the world.
Food for Thought: Evacuations from Afghanistan:
Edited by Daniel Moskovits
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