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United States
New-home inventory stands at 8.5 months of supply, but completed new homes represent just two months of supply, compared with 5.8 months in early 2009.
United Kingdom
The UK tax burden is on course for its highest share of GDP since the Second World War.
Euro Area
This scatterplot compares euro area sovereign credit ratings from S&P with yield spreads over Germany.
China
China’s nominal GDP relative to the US has consistently undershot earlier forecasts.
Equities
J.P. Morgan estimates that only 20% of AI capital expenditures will be funded by free cash flow in 2027, with the remaining 80% requiring external financing.
Energy
Near-term natural gas demand is forecast to remain well below historical norms.
Cryptocurrency
Tokenized real-world assets have reached $39 billion, led by US Treasuries.
Food for Thought
AI adoption appears to be in its early stages.
