BofA card spending, week to January 24th: +6.6% Y/Y (prev. 4.6% Y/Y). Spending growth grew in groceries and general merchandise, indicative of stockpiling before the Winter storm
Bank of America's weekly card spending data shows a notable increase of 6.6% year-over-year, up from 4.6% previously, indicating stronger consumer activity.
[MARKET ANALYSIS] US yields remain bid post-FOMC, supply in focus for the near-term
[MARKET ANALYSIS] Spot XAU nears USD 5600/oz while copper prices surge beyond USD 14k/t on greater AI demand
BofA card spending, week to January 24th: +6.6% Y/Y (prev. 4.6% Y/Y). Spending growth grew in groceries and general merchandise, indicative of stockpiling before the Winter storm
Sources from Arab TV report that disputes are still ongoing between Egypt and Israel regarding the number of people crossing through the Rafah in both direction on a daily basis
Air India is reportedly to firm up an option for an additional 30 Boeing (BA) 737 Max craft, Bloomberg reports citing sources
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This uptick, particularly in groceries and general merchandise, may suggest stockpiling behavior ahead of the winter storm, reflecting both consumer sentiment and potential inflationary pressure in the economy.
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