Updated: Aug 7
Here is an EconomicGps summary of global and US events from the past weeks that will likely impact markets going forward, throughout August and the fall.
Top Global Risk
Russia's invasion of the Ukraine continues to destroy property and lives as well as threaten world food and energy supplies. Russia feels NATO has broken a promise made with Gorbachev not to expand east. Polish warnings have fallen on deaf ears.
Yen Index x
The Yen index is bullish with the US dollar continuing to gain favor as Italian and British citizens lose confidence in elected officials. Italy and Britain will likely continue business as usual until new governing coalitions are formed.
The economic impact of carbon emissions is generating random heat waves and fires threatening life and property. The marginal global response to climate will likely require localities to harden climate resiliency and protect structures and human health city by city.
Monkey-pox has been on the radar since 2005 but appears to have become better at spreading in 2018. Global collaboration between scientists will continue as viruses will move around the world and mutate.
The global economy is slowing as central banks fight inflation. The performance of the economy is patchy at the global, state and local level. Central banks are raising interest rates in order to pump the brakes on spending to find a soft landing. Shipping costs appear to be leveling off as seaport congestion continues. Port congestion is the number one cost variable for global trade after fuel.
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