Top-of-mind economic news as we start the week:
— Mexico became the largest source of U.S. imports in 2023, replacing China for the first time since 2002.
— The increase in U.S. consumer prices (CPI) was revised down to +0.2% in Dec. 2023, indicating annualized inflation of 2.7%.
— The S&P 500 closed above 5,000 and Nasdaq topped 16,000 for the first time ever, on optimism about U.S. economic soft landing.
— Chinese stocks have lost about half their value since peaking in early 2021, as economy faces stagnating growth and deflation.
— ESG funds worldwide saw net outflows of $2.3 billion in Q4 2023, the first time investors put less money into these funds than they took out.
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