Following the Money

(1) #1 Amazon Hot New Release in Investing. (2) Monthly data on equity mutual funds and ETFs showing record inflows into ETFs and lots pouring into all funds investing globally. (3) Nonfinancial corporations continue to buy back shares. (4) The Buffett ratio is looking as rich as it was when the tech bubble burst, but inflation and interest rates are lower. (5) Lots more people working full time. (6) Earned Income Proxy rises to yet another record high. (7) Wage inflation remains subdued, but continues to outpace price inflation. (8) The Phillips curve remains flat. (9) No shortage of bank loans in China. (10) Movie: “Red Sparrow” (+).