Insights

Weekly Economic Perspectives: Unexpected Surge In US Consumer Credit

12 July 2021

Chief Economist

The Economy
Pace of services sector expansion slows in the US. Re-opening drives job gains in Canada. Strong service activity in the UK. Industrial production disappoints across Europe. Overtime wages accelerate sharply in Japan. RBA commences tapering.
The Market
Divergent equity market performance: Japan down, US at record highs. Big swings leave treasury yields lower again. Commodity currencies weaken. Volatile week ends with oil little changed and gold a little higher.

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