Last week's surprisingly strong US employment report has diminished investors’ expectations that central banks would quickly shift to more relaxed monetary policies. Nonetheless, equity market sentiment across most major economies has remained resilient, buoyed by positive corporate earnings news. In our charts this week, we examine:

·         Consensus forecasts for central bank policy

·         US capacity pressures and inflation expectations

·         Global supply chain pressures

·         Global business cycle surveys

·         Germany’s factory orders

·         Australia’s retail spending