More seniors than toddlers — a turning point in demographics
Slow, steady, and unstoppable—like a glacier—demographic shifts are quietly transforming economies and societies. UBS highlights how changing age structures, migration, and longevity are not just slow-moving backdrops but fundamental forces that will define markets, growth models, and policy choices for decades to come. A reminder that some of the most profound transformations happen quietly, in plain sight. source : ubs
⚠️ Way more more money is flowing out of Canada than coming in
Canada’s current account deficit reached C$21.16 billion in Q2 2025, AN ALL-TIME HIGH. Additionally, trade deficit in goods widened to a record C$19.6 BILLION. US tariffs seem to be hurting Canada's economy. Source: Global Markets Investor, Bloomberg
Apollo: "Yes tariffs are inflationary - so too is a US dollar depreciation - that results in a coming inflation mountain"
See chart below inflation 2021 cycle relative to 1970s. Source: Apollo, Samantha LaDuc on X
What a headline by The Telegraph...
Source: The Telegraph
2 similar headlines in the same week... but by the way, could the imf rescue them at the same time?
Can they really afford it???
US tariff revenue is skyrocketing
Annualized tariff revenues have hit a record $335 billion. This is more than triple the average seen in previous years. So far in August, collected customs and duties have reached $22.5 billion. Source: Global Markets Investor @GlobalMktObserv
In case you missed it...
Prices paid component in Richmond Fed Manufacturing Index spiked in August... highest since February 2023. Source: Kevin Gordon @KevRGordon
Germany economic growth has been lagging behind other European countries.
And Chancellor Friedrich Merz is looking for excuses: “This task is bigger than some may have imagined a year ago – and I say that self-critically,” Merz admitted in a speech on Saturday in Osnabrück. “We’re not just facing a phase of economic weakness; we are in a structural crisis.” Germany’s economy contracted by 0.3% in Q2, more than expected, as consumer spending fell short. But the root of the malaise lies closer to home: While Merz enjoys the spotlight abroad, he’s been slow to deliver reforms at home; and that’s dragging down the national mood. Source: Bloomberg, HolgerZ
