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Like a lot of parts of the global economy, housing/wood/material each saw a drop in both supply and demand given last year’s recession. Once beyond the commodity-induced price effects, it becomes clear the economy is settling back into the same disinflationary circumstances or ...
The technicalities from the FOMC minutes were more important than the taper reference. This Fed can take more control of the front end if they wish to. We think they will, and they should. Big players have a big stake, and rightly so. For further details see: Rates Spark...
Flash Eurozone PMI at second-highest since September 2018, future expectations at new all-time high. Record expansion of manufacturing output accompanied by return to growth in services. Jobs growth highest since November 2018. Input cost inflation at decade high. PMI data...
Flash Eurozone PMI at 52.5 in March signals return to growth. Manufacturing expands at record pace, helping offset service sector weakness. Factory input cost inflation highest since March 2011, as supplier delivery times lengthen to the greatest extent in the survey's 23-year his...
Chair Powell glitched just a tad yesterday, but the accomodative promise remains resolute. The BoE is on a not too dissimilar wavelength, while the ECB is just a bit... well, stuck. All doves, but different types. The ECB needs to be a true dove. The Fed probably does not have to ...
Global PMI signals fastest rise in firms costs for over 12 years as higher material prices are accompanied by record jump in service sector costs. Charges for goods and services rise at steepest rate for over a decade, led by the US and Brazil. Weak consumer services price inflati...
Global manufacturing PMI buoyed by further strong gains in production. Robust growth seen in the US, Eurozone, India and Brazil despite supply chain delays close to record high. Expansion limited by further slowdown in China, in turn linked to shipping and logistics problems. ...
Global economic growth led by the US as PMI rises to highest in six-and-a-half years. COVID-19 restrictions limit service sector growth in Europe and Japan. Solid growth continued to be recorded in Australia and Russia, albeit with rates of expansion capped in particular by weaken...
Things aren’t getting better globally in terms of controlling the virus. Recent economic data has shown signs of the damage being wrought by the rise in COVID-19 infections. I expect markets to continue to move in expectations of a robust recovery later in 2021 when vaccine...
Global business cycles are closely interconnected. Global business cycles are closely synchronized. Global equity markets respond accordingly. For further details see: Investing In Foreign Markets Sounds Exciting - But Isn't Always