What will drive global growth?

Some of anxiety that has lately gripped financial markets has ebbed a little in the early half of this week but investors are no longer actively embracing the soft landing consensus that had previously held sway. Our charts this week focus on the following related themes:

·       China’s structural growth foundations

·       The Bank of Japan and higher yields

·       The US economy’s resilience

·       UK inflation drivers

·       The growth and inflation consensus

·       Equity markets and liquidity