1. Our real-time estimate of global growth remains solid, above potential growth.

– Here’s how growth has shifted by country since the start of the year.

• The breadth of global growth has narrowed, with less than half of the economies we track growing at above one-year average levels.

2. Global inflation has firmed, based on our tracking.

3. Global bonds rallied.
• United States:

• Canada:

• United Kingdom:

• Germany:

• France:

4. The Global Supply Chain Pressure Index surged.

5. The geopolitical risk index has peaked.

Back to Index

1. Mortgage applications fell as the 30-year fixed mortgage rate ticked up.

• Refinancing activity also declined.

2. ADP private payrolls rose by 109,000 in April, topping expectations.

• Here is a breakdown by industry.

• Smoothed on a rolling three-month basis, the ADP report shows the labor market is potentially warming.