The National Oceanic and Atmospheric Administration says that the world just had its hottest May on record, while January to May this year was the fifth-warmest start to any year.
Moreover, four of the five hottest Mays on record have occurred since 2010, according to my Bloomberg colleague Tom Randall. So the Trade of the Day is umbrellas. Problem is, do you sell because global warming might mean less rain, or do you buy because we're all going to need parasols?
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