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United States
Headline PPI was roughly flat after rounding in July, driven by falling energy prices. Core PPI rose 0.2%, tamer than expected, although the June reading was revised up from 0.2% to 0.4%.
Canada
Canadian data have recently surprised to the upside, but tighter financial conditions, fading sentiment and labor momentum, slower labor-force growth, and trade tensions point to renewed weakness, favoring Canadian government bonds over US Treasuries.
Euro Area
Euro area banks are financially stronger than a decade ago.
China
China’s output per hour is just 23% of US levels, leaving substantial scope for productivity convergence.
Equities
Momentum stocks are now cheaper than the market based on forward P/E.
Energy
How has the market adjusted to the loss of Hormuz exports?
Alternatives
Private equity buyouts more closely resemble US small-cap than large-cap equities in sector composition.
Global Developments
Here’s a look at Wells Fargo’s global central bank policy rate forecasts.
