Growth Holds Firm

Global growth continues to hold up well, but this week's data flag a few fresh risks on the inflation and geopolitical front. In our charts this week:

Global equity markets remain resilient

Global PMIs point to a solid expansion

US growth, not inflation, is keeping bond yields elevated

Supply chains eased in June, but this week’s Middle East flare-up threatens that

Extreme heat across Europe is a fresh supply-side risk

AI investment’s highs in 2025