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United States
The July inflation report was benign and roughly in line with expectations.
United Kingdom
The UK has outperformed its G7 peers in the first half of the year.
Euro Area
Greece’s turnaround is nothing short of spectacular.
Asia-Pacific
The Kospi has rallied more than 20% over the past 10 days.
China
The share of loss-making Chinese industrial enterprises has doubled over the past decade to nearly 30%, underscoring mounting pressure from industrial overcapacity.
Equities
The surge in equity issuance at the height of the dot-com bubble reduced returns by as much as 10% annually. In contrast, shrinking US share supply added roughly 0.7% annually to equity returns from 2015 through 2025. The coming issuance wave could reverse the tailwind.
Credit
Leveraged loan defaults have eased, while high-yield defaults remain low.
Energy
The national average gasoline price is now at its highest-ever level this late in the calendar year, based on data since 2004.
