Greetings,
The United States: According to Steven Mnuchin, troubles at Boeing will shave off 0.5% from the 2020 GDP growth. While the Boeing situation is indeed troubling (charts below), it is highly unlikely that the company will have that much of an impact on the economy. But it does create a convenient explanation for slower growth in 2020.
The United Kingdom: The probability of a BoE rate cut jumped after Carney’s speech.
Asia-Pacific: The correlation of F/X reserves with currency moves is an indicator of currency intervention activity (or what some would call “manipulation”).
Energy: OPEC’s spare capacity is low, and any rebound in demand could challenge supply-side constraints. Moreover, there’s always the risk of an unplanned outage to nudge the oil market, according to BCA Research.
Credit: Energy firms are taking advantage of historically low debt yields.
Food for Thought: Audio vs. ebooks:
Edited by Devon Lall
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