Summary
- The University of Michigan Consumer Sentiment added a stronger-than-expected 1.5 points to January’s strong gain to reach 66.4, the highest reading since January 2022.
- Beijing lashed out at President Joe Biden for saying Chinese leader Xi Jinping faces ‘enormous problems,’ underscoring the renewed tensions between the two nations since the US downing of a balloon in its airspace.
- Global commercial real estate prices slipped late last year, the first quarterly decline since 2009.
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Weekly Commentary: Monetary Inflation Run Amok