Greetings,
United States: Factory activity across the country has been surprising to the downside.
Europe: In the United Kingdom, there are now more job vacancies than unemployed workers.
China: The central bank cut the five-year rate to support the struggling housing sector.
Equities: Fund managers haven’t been this underweight tech since 2006.
Also, this has been the worst slump in consumer discretionary stocks since the financial crisis.
Global Developments: The USD took a hit on Thursday despite the tailwind of increased global volatility.
Food for Thought: Lastly, let’s take a look at the divergence between global food production and prices.
Edited by Alexander Bowers
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