“Super Sick Monday"
16.1 million U.S. employees will be completely absent from work today following Super Bowl Sunday, according to this year’s research from UKG. In 2023, nearly 18.8 million employees said they planned on missing work on Super Bowl Monday. However, 6.4 million further employees plan to come to work late, another 11.2 million are unsure of whether they will come to work, and around 6.4 million will decide what to do on the day. The number jumps up for U.S. employees who plan to miss at least some work on Monday, reaching around 22.5 million employees – 14% of the U.S. workforce. The research also finds six million employees have not yet notified their employers and will call in sick on the day or simply ‘ghost’ their employer on Monday. source : The Harris Pol, UKG Workforce Institute
The two largest economies in Africa are under huge financial strain.
On Monday, Nigeria de facto devalued the naira by ~30% (after another ~30% devaluation in June). And Egypt is under pressure to devalue too, with the pound ~50% weaker in the black market. Source: Javier Blas Bloomberg
44% of office loans carry outstanding loan balances higher than the property value and are at risk of default according to a paper from the National Bureau of Economic Research
Source: Barchart
The Economy is not The Market
Source: Win Smart
How the economy works... An over-simplistic but accurate chart
Source: Markets & Mayhem
U.S. ECONOMIC DATA THIS WEEK:
*CPI INFLATION (TUES.) *PPI INFLATION, FED POLICY DECISION (WED.) *RETAIL SALES, JOBLESS CLAIMS (THURS.) *NY FED MANUFACTURING INDEX, INDUSTRIAL PRODUCTION, SERVICES PMI & MANUFACTURING PMI (FRI.) Source: www.investing.com
The stock market isn't the economy...The Chinese version...
Source: GS, TME
French and German economies are slumping
Source: Bloomberg
