👋👋

Because this is not understood, there’s also no mention of India’s biggest challenge, which remains female illiteracy. India won’t converge towards rich countries per capita GDP - like Korea or Taiwan have done - when so many women can’t participate in the labour force

Will do - looking forward to it confirming a long-held belief that the modern British FX industry is essentially an evolved bookmaking operation (one that has acquired a thin veneer of respectability).

It’s rational to think that we’re now reverting to normal cyclical dynamics, but credit imbalances remain (bafflingly) low, suggesting that it’s still early in the next one. Purgatory for a while yet?

Just ordered: Art of Legging: History, Theory and Practice of Bookmaking on the English Turf books.google.ca/books/about/...

Economic surprise indices in the euro area and UK are converging with the US, reducing momentum in both currencies against the dollar:

Odds on a 50-basis-point opener to the Fed's easing cycle are creeping back up:

Excess demand in US labour markets is evaporating:

Heh. Well, not quite *that* dead:

Yeah, doesn't import the animations on my end. Suspect you can only use the GIFs already in the BlueSky library.