Lingering tensions in the Middle East are now adversely affecting shipping costs and raising concerns about the durability of global supply chains. Recent commentary and some data points, in the meantime, have also been casting more doubt on the willingness of central banks to swiftly pivot toward looser monetary policy. In our charts this week we focus on:
·         Global shipping costs
·         Euro area banking conditions
·         The UK manufacturing sector
·         Equity markets in Japan and China
·         China’s economy
·         The Bank of Japan

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