Greetings,
United States: The Federal Reserve left policy unchanged as it monitors the virus spread. It will be some time before the labor market recovery warrants a rate hike.
In fact, the market continues to price in the possibility of negative rates next year.
The US dollar declined further in response to the Fed’s cautious stance.
Eurozone: Goldman Sachs expects the Eurozone’s economy to outperform next year.
Energy: The reduction in gasoline stockpiles has stalled (2nd panel).
Rates: Long-term market-based inflation expectations continue to climb.
Global Developments: This chart shows returns by asset class year-to-date. So far, only sovereign debt is up across the board.
Food For Thought: Most valuable brands in 2020:
Edited by Daniel Moskovits
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