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The global economy continues to show resilience. But beneath the surface, some increasingly uncomfortable divergences are emerging.
In this week's charts we examine six signals worth watching:
→ Interest-rate expectations have risen, but long-term bond-yield forecasts have lagged.
→ Korean equities have been falling even as growth forecasts improve.
→ US demand for conventional credit has weakened sharply.
→ Lending to non-bank financial institutions continues to surge.
→ Supply-chain pressures are re-emerging, complicating the inflation outlook.
→ Europe's old fiscal divide is reversing, with France increasingly vulnerable.
