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Weekly Economic Perspectives: Collapsing Inventories Curtail US Motor Vehicle Sales

Chief Economist

  • The Economy
    A surprisingly weak US employment report was not all bad. Canada’s Q2 GDP contracts unexpectedly. UK mortgage activity swings wildly. German retail sales down sharply. Japan’s labor market improves. Australia’s economy in good shape before lockdown.
  • The Market
    Japan leads broad equity gains. The UK leads broad widening in bond yields. The US dollar weakens on jobs report. Oil prices continued to rise amid drop in US inventory.