Global macro overview
Indicators across eleven major economies, twelve-month forecasts, and how the cycle transmits into equities, rates, credit, FX and commodities
Where the cycle stands
Economies at a glance
Latest print. select a row for the country view| Economy | Cycle | CPI | PPI | UNEMP | INFLATION | RETAIL | |
|---|---|---|---|---|---|---|---|
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Cross-section
Growth vs inflation · z-scored across the eleven economiesEvery economy is placed by growth and inflation momentum, each z-scored against the group, so the centre is the eleven-country average. Distance from the crosshair shows how firmly it sits in Reflation, Overheating, Stagflation or Recession.
Composite ranking
Strongest to weakest · bars split by CPI / PPI / unemployment / retailEconomies are ranked by composite score — the blended price and demand percentile, where 50 is the median. Each bar is split into its four drivers, so you can see whether CPI, PPI, unemployment or retail is doing the work.
COT positioning
Crowding by trader category · label (score) · full page →| Asset | Asset Mgr (score) | Lev Money (score) | Dealer (score) | |
|---|---|---|---|---|
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Each column is a CFTC trader category from the disaggregated futures report: Asset Mgr (real-money institutions — pensions, insurers, asset managers), Lev Money (leveraged funds — hedge funds, CTAs), and Dealer (intermediaries who typically hedge client flow rather than take a directional view).
- score
- that category’s positioning rescaled to −100…+100, where 0 is its historical median stance in this instrument.
- label
- score bucketed by distance from the median — roughly balanced (<20), leaning (20–60), stretched (60–90), crowded (90+) — signed long or short.