Macro Briefing: 13 August 2024

* Iran retaliation against Israel could come this week, says White House
* Majority of Americans wrongly think US is in recession
* Investor demand for bonds rebounds as recession fear rises
* Fund managers raise cash holdings in August, BofA survey reports
* German economic sentiment falls sharply in August
* Big Tech’s electricity use higher than some demand in some countries
* GM cuts staff in China as it rethinks its strategy for the country
* Small business optimism rises for fourth straight month in July:

US stock market volatility (based on the VIX Index continues to moderate after the recent spike, but history suggests that investor anxiety may remain elevated for months. “Once (the VIX) settles into a range, then people will get a little more passive again,” says JJ Kinahan, CEO of IG North America and president of online broker Tastytrade. “But for six months to nine months, it usually shakes people up.”