Today's Economy Europe Daily Briefing: U.K. GDP Should Rebound in Q1 Confidence should return, in line with the fading of no-deal Brexit risks. LatAm Daily Briefing: Argentina's Central Bank Cuts Again By one measure, the real policy interest rate now sits in negative territory. Asia-Pacific Daily Briefing: Japan's Machinery Orders Fit Like a Daydream Core machinery orders surged in November, helped by recovery efforts after Typhoon Hagibis. High-Yield’s Outlook Changes to Negative More Than Doubled Changes to Positive Fourth-quarter 2019's outlook changes for U.S. investment-grade issuers included 21 reductions. » VIEW MORE TODAY'S ECONOMY
Commentary U.S. Macro Outlook: The Expansion Continues The higher asset prices rise, the more considerable the risks of a disorderly adjustment. U.S. Credit Outlook: A Strong Performance Consumer credit posted year-over-year balance growth of more than 4% in November. U.S. Regional Outlook: Demographic Leaders Expand Their Edge The South continues to lead the way in population growth. Trade Diversion Since the U.S.-China Trade War The potential gains from trade diversion are likely to be the highest for the EU, Mexico and Taiwan. » VIEW MORE COMMENTARY
Today's Economic Indicators
Germany Consumer Price Index Dec. 2019: 1.5% German consumer price inflation in December slightly exceeded expectations, accelerating to 1.5% y/y from 1.1% in November. World Moody's Analytics Global GDP 2019Q3: 2.5% Our estimate of global real GDP growth for the third quarter was revised a touch higher; activity is now expected to have risen by 2.5% in annualized terms (previously 2.4%), the same as in the previous stanza. Peru Unemployment Dec. 2019: 6.1% The job market in the Lima metropolitan area closed the year on a soft note. Canada ADP Canada National Employment Report Dec. 2019: 46,168 The labor market registered solid payroll gains in December, according to ADP. Canada New Motor Vehicle Sales Nov. 2019: -2.0% Total new-vehicle sales in November were down again, marking a 10.3% decline from October, at 146,259 units valued at C$6,459,098 on an unadjusted basis. United States Moody's Analytics Beige Book Index Jan. 2020: 86.1 The Moody’s Analytics Beige Book Index improved to 86.1 in January from 77.8 in November, marking the series’ first increase since summer 2019. United States Jobless Claims January 11: 204,000 The U.S. labor market remains strong as jobless claims are low. United States Import and Export Prices Dec. 2019: 0.3% U.S. inflationary pressures remain muted. United States Philadelphia Fed Survey Jan. 2020: 17.0 Manufacturing activity improved moderately from December to January in the Federal Reserve’s Fourth District. United States Retail Sales Dec. 2019: 0.3% Retail sales were strong in December, in stark contrast to the results for December 2018. United States Business Inventories (MTIS) Nov. 2019: -0.2% The stockpile build paused in November. United States NAHB Housing Market Index Jan. 2020: 75 Homebuilder sentiment inched down 1 basis point to 75 in January. United States St. Louis Fed Financial Stress Index January 10: -1.47 Financial market stress decreased in the week ended January 10. United States Natural Gas Storage Report January 10: -109 bil cubic feet The decrease in natural gas inventories was greater than analysts expected, which will have a positive impact on prices. Singapore Foreign Trade Dec. 2019: United States Treasury International Capital Flows Nov. 2019: $22.9 bil Net long-term capital flows increased for the third straight month in November. China Fixed Asset Investment Dec. 2019: China GDP 2019Q4: China Industrial Production Dec. 2019: China Retail Sales Oct. 2019: Indonesia Foreign Trade Dec. 2019: » VIEW MORE ECONOMIC INDICATORS |