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United States
The share of the CPI basket running above a 3% annualized rate rose further, casting doubt on the disinflationary trend.
Japan
Japanese banks and insurers have been net sellers of foreign long-term bonds this year, …
… but have stepped up purchases of domestic bonds as JGB yields hit multi-decade highs.
Asia-Pacific
A global semiconductor selloff has pushed SK Hynix more than 50% below its peak, while the Kospi suffered a 7.6% single-day decline.
Equities
This chart shows the federal government’s equity stakes in private companies.
Rates
Retail investors have purchased nearly $3 billion in fixed-income ETFs on Citadel Securities’ platform in October, putting the month on pace for record net buying in data going back to 2017. Demand has favored T-bills, ultra-short-duration bonds, municipal bonds, and Treasuries over credit.
Global Developments
Bilateral exports between China and the US have fallen below their pre-tariff trends, while both countries’ exports to other markets have increased.
Food for Thought
Rather than becoming obsolete, some older GPUs are appreciating in value amid sustained demand for computing capacity.
