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United States
The Chicago Fed CARTS estimates that retail sales ex-auto for August rose by 0.5% month over month, …
… but the inflation-adjusted measure was flat.
Euro Area
Nearly 90% of Germans support membership in Europe’s common currency and market, presenting a constraint on the AfD’s euroskeptic platform.
Europe
Sweden’s monthly GDP contracted in July, registering its steepest monthly decline in over a year.
Equities
Consumer Staples’ revenue growth has been driven almost entirely by price increases since 2022, while volumes have remained persistently weak.
Commodities
Silver miners are holding record-high net cash balances.
Alternatives
VC funds show the widest IRR gap between top and bottom performers across 2005 to 2020 vintages.
Food for Thought
The latest PISA results show rich-world teenage literacy and numeracy declining further.
When a one-page daily brief stacks rates, oil, and fiscal stress together, it is quietly saying the debt-and-duration problem is already the portfolio constraint.
https://paretoinvestor.substack.com/p/the-coming-debt-crisis