Greetings,
The United States: The recent improvements in economic indicators suggest that deeper rate cuts are unlikely.
The Eurozone: Ireland is getting hit by the combination of Europe’s recent industrial weakness and the Brexit uncertainty.
China: Hong Kong’s Q2 GDP growth was weaker than expected.
Rates: Cutting rates as an “insurance” (when the implied central bank policy rate falls below a certain threshold) does not lower recession risks, according to a Goldman Sachs study.
Food for Thought: Post-debate betting market probabilities for Democratic candidates (cents = % nomination probability):
Edited by Joseph N Cohen
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