US economic growth strengthened for the second month in a row in July, according to this morning’s update of the three-month average of the Chicago Fed National Activity Index (CFNAI-MA3). Last month’s reading ticked up to -0.10, the highest level since February. Today’s update effectively confirms that the recession risk remained low last month.
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Commodities rebounded sharply last week, posting the strongest gain among the major asset classes, based on a set of representative exchange-traded products. The rise marks the second weekly increase for broadly defined commodities.
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