Morning Note | January 31, 2023

Good Morning!

Markets are up small following a slightly better-than-expected employment cost index ("ECI") number.   Commodities are mostly lower, with Energy the laggard. Energy selloff continues with WTI -1.6% this morning ahead of OPEC+ meeting tomorrow. Separately, the IMF releases their 2023 global outlook: it upgrades its 2023 US and global growth …