This Week's Chart, Next Week's Markets

Extreme poverty, G-20, U.S. consumers & durable goods, Japanese industrial production

Lots of footnotes here, but the headline is that extreme poverty is back on the rise - and almost entirely in Sub-Saharan Africa. This, by the way, is also the only region where the population is expected to get larger and younger in the next decades. Seems like a problem that deserves at least as much attention as tariffs, AI and stablecoin.

Meanwhile, keep an eye out next week for these:

Saturday-Sunday: The G-20 Summit will convene in Johannesburg without U.S. representation. Note that the next G-20 summit is still scheduled for December 2026 at the Trump National Doral Miami Resort.

Tuesday: U.S. Consumer Confidence Index is expected to hold steady despite headwinds from tariffs and recent announcements of job cuts at large firms.

Wednesday: U.S. Durable Goods Orders is still scheduled for release by the Census Bureau, even though the Bureau of Economic Analysis has postponed early estimates of 3Q GDP as it recovers from the shutdown.

Thursday: Japan releases Industrial Production data that should reflect modest demand growth continuing.

Happy Thanksgiving - to those who celebrate!