UK Economics Chart Pack Households well placed to spend more It’s well known that the uncertainty caused by the Brexit bedlam probably contributed to GDP growth easing from 0.6% q/q in Q3 of last year to 0.3% or less in Q4. But it’s less appreciated that should... 7th January 2019 · 1 min read
China Data Response FX Reserves (Dec.) The People’s Bank (PBOC) appears to have sold only a small amount of foreign exchange last month, suggesting that the renminbi has faced little downward pressure recently. 7th January 2019 · 1 min read
Metals Chart Pack Gold to remain the star performer We suspect that there will be further falls in industrial metals prices as global economic growth slows and investors continue to flee from riskier assets. That said, economic and financial... 4th January 2019 · 1 min read
Global Economics Chart Pack The cycle is turning Many of the indicators that tend to turn first around peaks in the business cycle are now flashing red in several major economies. Admittedly, some survey measures of confidence and real activity... 4th January 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks rose at the end of December as domestic production remained stable and crude inputs to refineries grew. While the slight increase in crude stocks is not too concerning, the surge in... 4th January 2019 · 1 min read
Commodities Weekly A shaky start to the new year Commodity prices have been volatile this week, driven more by macroeconomic and financial market developments than by commodity-specific fundamentals. Mounting concerns about the outlook for global... 4th January 2019 · 1 min read
Global Economics Update Chinese growth to stay weak despite policy support Today’s cut to the required reserve ratio is partly about managing liquidity ahead of Chinese New Year. But it is also intended to provide support to the economy and will be reinforced with further... 4th January 2019 · 1 min read
Canada Economics Weekly Challenging landscape greets Bank of Canada Officials at the Bank of Canada face a challenging landscape when they meet next week. Not only have global markets been volatile, but the Canadian yield curve has moved closer to inversion territory... 4th January 2019 · 1 min read
Japan Economics Weekly Sub-zero JGBs renewing financial stability concerns The yield on 10-year Japanese Government Bonds turned negative again this week, for the first time since shortly after the “around zero” target was adopted in 2016. This may rattle some of the more... 4th January 2019 · 1 min read
UK Economics Weekly Slow growth, Christmas spending & stockpiling Much like a drone over an airport runway, Brexit is preventing the UK economy from taking off in 2019. But the foundations are in place for growth to fly once (if) Brexit lands. 4th January 2019 · 1 min read
Nordic & Swiss Economics Weekly PMIs pointing to a weaker 2019 PMIs for December pointed to robust growth in Q4 in Switzerland, Sweden, Norway and Denmark. However, the breakdowns pointed to weak growth ahead in Switzerland and Sweden, and only the Danish economy... 4th January 2019 · 1 min read
Latin America Economics Weekly Bolsonaro boost continues, Banxico a bit less hawkish Brazilian markets have performed strongly this week as hopes for business-friendly reforms under President Jair Bolsonaro have continued to build, but we think that the rally may run out of steam... 4th January 2019 · 1 min read
Capital Daily US employment report suggests that tightening cycle is not over 4th January 2019 · 1 min read
US Economics Weekly Shutdown likely to continue into third week The Federal government has now been partially shuttered for the past two weeks, which already makes it one of the longest closures on record. Given the intransigence on both sides, there is a very... 4th January 2019 · 1 min read
Europe Economics Weekly Euro-zone economy continues to lose momentum Data released this week suggest that the economy lost more momentum at the end of last year and that GDP growth in 2019 won’t be as good as in 2018. 4th January 2019 · 1 min read
China Economics Weekly PBOC eases policy, trade talks back in focus In keeping with its usual practice of making policy moves late on Fridays, the PBOC today announced a 100bp cut to the required reserve ratio aimed at supporting the economy and managing liquidity... 4th January 2019 · 1 min read
