More inflation in the US puts more stress on consumers and on the Fed. China hole gets bigger but so too does the rebound. On net, we leave the week seeing risks of recession largely unchanged: under 50% but not much. Anxiety builds ahead of an expected restart of Russian gas flows to Europe next Thursday, while next Friday’s flash PMIs to flag further momentum loss.

Speakers:

Bruce Kasman

Joseph Lupton

This podcast was recorded on July 15, 2022.

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