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United States
Service-sector activity reached the highest level since the end of 2024, offsetting a slowdown in manufacturing.
Canada
US-Canada trade talks collapsed, triggering 50% US tariffs on $20 billion of Canadian imports and prompting Canada to impose dollar-for-dollar countertariffs on US steel, dairy, and appliances on September 8, escalating risks to the nearly $900 billion bilateral trade relationship.
Here’s a look at the trends in US-Canada goods trade.
The US imports more goods from Canada than from China.
Euro Area
The flash manufacturing PMI for the euro area surged to the highest level in over four years, while service-sector activity held steady.
Europe
Norway’s domestic credit growth edged lower.
China
Foreign direct investment into China slowed.
Equities
Global earnings breadth remains strong, with the share of countries experiencing year-over-year forward EPS downgrades near cycle lows.
Credit
As a percentage of equity market cap, debt issuance this year looks subdued.
Food for Thought
Computer memory prices fell for decades, …
… until recently.
