Cracks Beneath The Shine

Recent financial market gains have been underpinned by resilient global data, AI-fuelled optimism, and hopes that most central banks will continue to loosen monetary policy. Yet beneath the surface, a more complicated picture may be emerging. In our chart this week we home in on:

• US housing indicators
• China's economy
• UK inflation
• Oil and inflation expectations
• Clean energy
• Renewables versus non-renewables