Macro Briefing: 10 January 2024

* Houthi militias launch biggest attack to date on ships in Red Sea
* US inflation expected to ease further in Thursday’s report for December
* Will politics be a factor for Fed policy this year?
* World Bank forecasts slowest growth since pandemic in 2024
* BlackRock, world’s largest asset manager, announces job cuts
* U.S. trade deficit unexpectedly narrowed in November:

A tale of two Asian giants: Diverging performances between stocks in Japan vs. China continue to widen, based on a set of ETFs. The iShares MSCI Japan fund (EWJ) has climbed more than 19% for the trailing 12-month window. By contrast, iShares MSCI China fund (MCHI) has lost more than 24%.

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