Rice likely to get even more expensive as India imposes additional restrictions
India further tightens rice exports as the government sets a floor price of $1,200 per tonne for basmati rice exports. India also imposes a 20% tax on rice sales abroad. Rice is a staple food for half the world. Source: Barchart, Bloomberg
Zillow expects U.S. home prices to jump by 6.5% over the next 12 months
Source: Barchart, Fortune
The US and China are the ones investing massively in innovation and the future
Europe is lagging and prefer first to debate about regulating AI. Thsi could have serious consequences in terms of competitivity, productivity and economic growth. Source: Standard Chartered, Michael A.Arouet
As Torsten Slok from Apollo posted this weekend, a US corporate default cycle has started the markets are not paying attention
Source: Vignesh Vijayakumar
The U.S. has accumulated as much debt in the last 10 years as in the entire 100 years before that
From 1923 - 2013: $16 trillion , From 2013 - 2023: $16 trillion Source: FRED
US Budget Deficits Are Exploding Like Never Before
Some economists and investors warn that the Biden administration’s fiscal spending—it’s pouring hundreds of billions of dollars into programs to bolster domestic manufacturing of electric cars and semiconductors, and to repair roads and bridges—could rekindle inflation and make it hard for the Fed to dial back its rate hikes. Source: Bloomberg
U.S. Home Purchase applications drop to lowest level in nearly 30 years
Source: Bloomberg, Barchart
This week has seen the biggest set of 'bad news' since April...
And that bad news prompted a very aggressive bid for global bonds with USTs tumbling 8-12bps on the day, leaving the long-end down 9bps on the week (but 2Y +2bps still) Source: www.zerohedge.com, Bloomberg
