Downside Risks
Following last week's softer-than-expected US labour market report bond yields have fallen sharply as investors repriced the outlook for Fed easing. This recalibration arguably also reflects growing awareness of mounting downside risks across the US and broader global economy. In our charts this week we focus on:
Capacity pressures in the US and Europe
US housing market weakness
US bank lending standards
Global growth momentum
Shipping costs and supply chain pressures
Excess capacity in China
The skinny
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