When the chips are up
Prospects for a swift pivot toward looser monetary policy in the US and Europe have been diminished by persistent inflationary pressures and stronger-than-expected labour market conditions over the past few weeks. Equity market sentiment in most major economies, however, has remained resilient, buoyed by a positive stream of corporate earnings news, especially from the technology sector. In our charts this week we focus on:
· Consumer confidence in the US and Europe
· US technological innovation
· Semiconductor inventories in Asia
· The Italian bond market
· Credit conditions in the euro area…
The skinny
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