Over the past few days there has been further pushback to the idea that central banks might initiate easing cycles in the immediate months ahead. Added to this the flare up of instability in the Middle East has been another factor amplifying investor anxiety. Andy Cates and Tian Yong Woon discuss these and other issues in their podcast this week. Meanwhile, our charts this week focus on:

·         Maritime trade in the Red Sea

·         Energy prices and geopolitical instability

·         Global shipping costs

·         Supply chain efficiency

·         China’s labour market

·         The post-pandemic economic recovery