GBP/USD is at a critical inflection point near 1.35, with traders watching for either a deeper pullback or a bullish breakout in the coming weeks.

At first glance, the US economy’s sharp acceleration in Q3 - with GDP growth exceeding 4% year-on-year - appears to decisively counter narratives of an economic slowdown. Yet the muted reaction in bond markets tells a different story.

CarMax is back as a microcosm of the entire consumer economy.