The daily is a bit late today because I had some engagements this morning. Things will be back to normal tomorrow. But expect a late newsletter on Thursday as well.
1. Canada's private sector echoing 1990s America
Goldman has a good note out on Canada that the National Post is covering. It's worth highlighting because it goes to how we think about the macroeconomy. Here's what the Financial Post has cross-posted from Bloomberg:
One under-appreciated indicator is flashing red for some developed markets, Goldman Sachs analysts say.
The private-sector financial balance — an economy’s total income minus the spending of all households and businesses — has proven more powerful in predicting crises than the current-account balance, Goldman analysts led by Jan Hatzius, the bank’s global head of e...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.