What commodity volatilities mean for consumers Ninety-two percent of companies in our Retail/Restaurant Index have reported Q4 2021 EPS. Of the 186 companies in the index that have reported earnings to date, 74% have reported earnings above analyst expectations, 3% matched and 24% reported earnings below analyst expectations. The Q4 2021 blended earnings growth estimate is 48.4%. The Q4 2021 blended revenue growth estimate is 13.5%. Seventy percent have reported revenue above analyst expectations, and 30% reported revenue below analyst expectations. Exhibit 1: Refinitiv Earnings Dashboard Source: I/B/E/S data from Refinitiv  Rising commodity prices Since the pandemic, The Refinitiv /

The global equity market rally has continued into the first trading week of 2018, with global equity indices reaching unprecedented levels. Refresh the chart in your browser | Edit chart in Datastream We expect equities to remain well supported for most of this year, even though we see them as around 40% overvalued on the basis of fundamentals. All three main indices in the US — the NASDAQ, S&P 500 and the Dow Jones — managed to top record highs on the back of a strong ISM manufacturing survey last Wednesday. (The new orders index climbed to a 14-year high of 69.4.)

We first published our China Momentum Indicator 2.0 (CMI 2.0) last month. It is based on a broader basket of indicators, seven of which were not included in our CMI 1.0, with the aim of better capturing economic activity in China. Refresh the chart in your browser | Edit chart in Datastream Want more charts and analysis? Access a pre-built library of charts built by Fathom Consulting via Datastream Chartbook in Thomson Reuters Eikon. CMI 2.0 stood at 8.2% in July, 0.2 percentage points higher than June’s revised reading. This marks a significant rebound from the trough of 2.3% in October 2015, a consequence of China’s policymakers

Key Highlights & Observations Fund Market Overall Assets under management in the global collective investment funds market grew US$239.4 billion (+0.6%) for June and stood at US$42.96 trillion at the end of the month. Estimated net inflows accounted for US$26.1 billion, while US$213.3 billion was added because of the positively performing markets. On a year-to-date basis assets increased US$3.85 trillion (+9.8%). Included in the overall year-to-date asset-change figure were US$692.1 billion of estimated net inflows. Compared to a year ago, assets increased a considerable US$4.95 trillion (+13.0%). Included in the overall one-year asset change figure were US$1.26 trillion of estimated

Beijing’s push for electric vehicles is driving investor interest in lithium and lithium miners. The spot price of lithium carbonate – a compound used to create car batteries – has almost trebled since 2015, and a tussle over strategic supplies might be under way. Even so, going long on lithium is no sure bet. The Chinese government wants to clean up smoggy air and help domestic carmakers leapfrog the combustion engine to build global auto brands. Thanks to supportive policies, mainland EV sales rose 26 percent in the first half of 2017, while production was up 30 percent. Of the