Greetings,
United States: First, the NY Fed’s manufacturing index (the first regional report of the month) surprised to the downside.
The Eurozone: Fund managers haven’t been this bearish on the Eurozone in over a decade.
China: The PBoC is continuing its “stealth” rate cut.
Cryptocurrencies: Bitcoin’s skew is elevated, indicating stronger demand for puts than calls.
Emerging Markets: Colombia’s economic activity has been very strong.
Commodities: Crop conditions indicators for US grains have been less than ideal, especially for wheat.
Food for Thought: Lastly, here are the percentages of fertilizer imports from Russia and Belarus:
Edited by William Villacis
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