Tariff Truce, Tenuous Trust
Financial markets found a measure of calm this week, buoyed by some subtle shifts in tone from US policymakers. But beneath the surface, significant downside risks persist. In our charts this week we focus on:
China-US shipping activity
US and Euro area GDP growth
Yield differentials and the US dollar
Structural growth drivers and the dollar
Competitiveness gauges in the US, Europe, Japan and China
Monthly wage costs in selected economies
The skinny
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