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Oil prices have tumbled back to June levels, whilst the call option favourite Tesla has seen its price crash 26%. And the eurozone moved into deflation.
Global Capacity Utilisation is only back to the March level at 77%, well below December 2019’s 82,1% before the recession began.
Apple’s SE model launch means it is now competing with Android-based Chinese competitors – probably not good news for its future profits
The US is seeing a K-shaped rebound. Fed support meant the S&P 500 made new all-time highs last week. But 20% of US adults told the US Census they couldn’t afford to buy enough food to feed their children.
US stock markets are riding high, with valuations in the 95th percentile since 1881. But the US economy is in trouble, with growth expected to be in the 4th percentile.
Markets ignored our forecast of a Donald Trump win in 2016. And now they are ignoring the risk that he might not accept the result, if he loses in November.