Macro Pulse

Still Standing


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Talk of a potential easing in Middle East tensions has steadied markets. But scratch the surface, and the macro picture remains far from settled. This week’s charts highlight the growing tension:

 

• Global manufacturing holding up — despite higher energy prices

• Shipping costs rising — supply chains tightening again
• Oil production constrained — logistics, not demand, the issue
• Policy expectations shifting — tilt back toward tightening risk

• US bank lending standards – in neutral for now

• Wage pressures still elevated — particularly in the UK

 

The takeaway? Markets are still standing — but the balance between growth and inflation is becoming increasingly fragile.

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Macro PulseBy Haver Analytics