👉 A SYNCHRONIZED GLOBAL MONETARY POLICY EASING
71% of major central banks are now easing their monetary policy, the most since the 2020 CRISIS. This is also in line with the Financial Crisis and the 2001 recession. Source: BofA
China Weighs $853 Billion Debt Swap to Rescue Local Governments
Source: - Bloomberg
😎 ALMOST NO GLOBAL INVESTORS EXPECT A RECESSION 😎
Only 8% of investors from the BofA survey* expect a hard landing for the global economy within next 12 months, second-lowest reading in 2 years. 76% expect a soft landing. *Survey of 195 participants with $503 billion asset Source: BofA, Global Markets Investor
Are investors underestimating just how behind the curve China is in stimulating its economy?
Looking at the chart below (courtesy of BCA), it seems that a 5% of GDP stimulus package is the minimum needed just to prevent growth from weakening further...
Between 2000 and 2024:
US Income +24% US House prices +140% Source: Trend Spider
BREAKING: The US money supply hit $21.17 trillion in August, the highest level since January 2023.
This also marks a fifth consecutive monthly increase for the US money supply. Over the last 10 months, the amount of US Dollars in circulation has jumped by a MASSIVE $484 billion. In effect, the money supply is now just $548 billion below a new all-time high. After a brief decline, the quantity of money in the financial system is surging again raising concerns about another inflation wave. Source: The Kobeissi Letter
Turkey is running the narrowest current account deficit since 2021.
Kudos to Finance minister Mehmet Simsek and his economic team for this turnaround. This is an impressive adjustment! Source: Robin Brooks
Food inflation is accelerating
Source: @Kurtsaltrichter on X, www.tradingeconomics.com
