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United States
Manufacturing growth remains concentrated in advanced industries, particularly computers, electronics, and aerospace.
h/t @samueltombs, Pantheon Macroeconomics
Euro Area
France has the highest risk of civil unrest among G7 countries, per Bloomberg Economics.
China
Q3 GDP growth picked up to 4.5% year over year from 4.3%, slightly better than expected. Export resilience and policy-supported manufacturing continued to offset weak domestic consumption.
Equities
Declining average pairwise correlations across equity sectors suggest greater opportunities for active sector selection.
Rates
Gold has topped Treasuries in global central bank reserves.
Energy
Despite retreating from their peaks, supertanker freight rates remain historically elevated as Middle Eastern shipping disruptions and sanctions uncertainty persist.
Global Developments
The US dollar rally appears increasingly exhausted as breadth deteriorates, according to Variant Perception.
Food for Thought
The men’s marathon world record from 2000 would rank only 52nd today.
