Top-of-mind economic headlines as we start the week:
— The US Consumer Price Index was up 7.5% annualized in Jan. 2022, the highest reading since Feb. 1982, with fuel, food, and housing all registering price gains and largely offsetting wage increases.
— The US trade deficit increased 27% in 2021 to a record $859 billion, with both imports (+21%) and exports (+19%) significantly higher on global demand for goods and higher prices.
— A key gauge of US consumer sentiment fell 8% in Feb. to the lowest level since 2011, with virtually all the decline coming from Americans earning at least $100,000 a year.
— Issuance of bonds to finance projects that prioritize environmental or social sustainability rose 64% globally in 2021 to a record $1 trillion, with a 35% increase expected in 2022.
— The busiest trade crossing between Canada and the US has reopened after nearly a week shutdown, as Canadian truckers protesting Covid-related restrictions blockaded the Ambassador Bridge in Ontario.
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