Market Overview

The major central banks have placed their markers and have moved to stage left. There is the late-month high frequency data, which pose some headline risks in the week ahead. The main focus for most...

The week ended with some surprises that I hadn’t anticipated. For the most part, they appear to have been rather stretched waves that normally don’t occur – but can still be valid....

The Federal Reserve announced on Wednesday that it would not be raising interest rates in September, but signs are pointing towards a December rate hike as three Federal Reserve officials indicated...

The media spread US Census' good news: Median household income in the United States was $56,516 in 2015, an increase in real terms of 5.2 percent from the 2014 median of $53,718. This is the first...

Canada – The consumer price index dropped 0.2% in August, allowing the year-on-year inflation rate to decline two ticks to 1.1%. In seasonally adjusted terms, CPI was down 0.1% as higher prices...

Market movers ahead In the US , we have several important data releases including PCE inflation, which could be important for the Fed's decision on whether to hike soon or not. The week will also be...

BoJ adopts new method Credibility is crucial This is (probably) the reason behind the co-existence of two redundant targets At its previous meeting at the end of July, the Bank of Japan (BoJ)...

The Fed decided to leave monetary policy unchanged. It however clearly announced a hike is more than likely before year-end. At the same time, FOMC members lowered the likely path and magnitude of...

In order to boost inflation expectations and inflation, the Bank of Japan has made two changes to its monetary policy. By introducing yield targeting, it creates more flexibility than would a QE...

The government maintained its growth forecast of 1.5% for both 2016 and 2017. This seems like an optimistic outlook given the expected dissipation of certain growth support factors while new...

The €72 trillion (notional) derivatives mess known as Deutsche Bank (NYSE:DB) remains under severe pressure. It’s market cap is $17.43 billion. It has no earnings and pays no dividend.On...

GDP estimates for third and fourth quarter are now in a free-fall.Last Friday the FRBNY Nowcast was in a blackout period because of the FOMC meeting on Wednesday. Friday we saw estimates tor the last...

The Fed DecisionAs widely expected, the Fed left interest rates unchanged at the September 21, 2016 FOMC meeting. The Fed felt things were balanced, and was looking for a pick up into the fourth...

Economic CommentaryNot long ago, it was difficult to imagine a future without rising global trade and deepening economic integration. Governments pushed through trade liberalisation policies, firms...