Greetings,

The United States: Input prices for manufacturers started rising again last month, further spooking bond markets.

The Eurozone:  Upside surprises in recent CPI reports from Germany, France, Spain, and Belgium point to a reacceleration in inflation at the Eurozone level.

Credit: Mutual fund inflows into US investment-grade credit increased this year, outpacing ETF flows.

Energy: US gross crude oil exports are hitting record highs.

Emerging Markets: Market pricing of sovereign credit risk is meaningfully higher since 2010 for countries such as Turkey, Argentina, and South Africa.

Global Developments: Here is a look at February and year-to-date performance across major assets. The risk-on rally ran out of steam last month.

Food for Thought: Lastly, here are average US tax refunds by year:

Edited by William Villacis

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