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UK stocks have been outperforming US stocks on a broad index-based level for the past seven weeks, but this isn’t a case of a UK renaissance.
After a slump through the latter half of the last decade, the US is experiencing a startup tsunami, according to The Economist.
European productivity has increased only about 20% since 2000, about one-third the rate of the US.
A New York Fed survey found renters saying their probability of ever owning a home fell to 40.1%, a new low.
Cocoa prices plunged almost 30% in the past week after a rally that pushed prices nearly 80% higher to start the year.
After years of chronic stagnation, prices are rising again, with inflation exceeding the Bank of Japan’s 2% target for two years running.
Futures prices had surged to record highs in recent months because of droughts contributing to the country’s smallest herd since the 1950s.
The central bank held the funds rate at 5.25% to 5.5%, citing a “lack of further progress toward the Committee’s 2% inflation objective.”