The expected risk premium for the Global Market Index (GMI) continued to hold at the 6.0%-plus level in December. Today’s 6.1% estimate (fractionally above the previous month’s forecast) marks the third straight month at 6.0% or higher.
* US sets new daily record of 1 million-plus Covid-19 cases
* Severe cases and hospitalizations due to Covid-19 have yet to soar
* Passive ETFs pay a high price for predictable rebalancing techniques
* China’s factory activity grew at fastest pace in 6 months in December
* Supply shortages kept US manufacturing constrained in December
* UK manufacturing expansion continued at 2021’s close
* US construction spending rose for ninth straighth month in November: