This is the first of a series of (usually) weekend comments on what I have learned this week about the global economy and financial markets. It will not attempt to be comprehensive. It will simply give my interpretation of the news which strikes me as particularly important for global macro, both in the recent past and the near future. This week, there was a great deal of new evidence suggesting that the global upswing is gathering powerful momentum as the year begins, especially in the US. But the problems of the eurozone periphery show no sign of ending. Rising food prices are becoming a severe headache. And the Aussies have lost interest in cricket. Read more