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Development has decelerated by about half a share level since Liberation Day.
Determine 1: Lewis-Mertens-Inventory Weekly Financial Index (blue), and Baumeister-Leiva-Leon-Sims Weekly Financial Circumstances Index for US (tan), all y/y development fee in %. Supply: Dallas Fed through FRED, WECI, accessed 11/28/2025, and writer’s calculations.
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