Today's Economy Europe Daily Briefing: Good News for Hammond The U.K. chancellor has considerable headroom in his budget for flexibility on spending and taxes. Risks as U.S. Equities Reach New Highs Fundamentals support further—but less impressive—stock market gains. Asia-Pacific Daily Briefing: To Cut or Not to Cut, That Is the Question Australia's Q1 CPI was weak, increasing odds that interest rates will be cut in 2019. Lower T-Bond Yields and Wider Spreads Are Likely if High-Yield Downgrades Continue to Double Upgrades Although markets have largely ignored the jump by the downgrade per upgrade ratio of U.S. high-yield credit rating revisions. » VIEW MORE TODAY'S ECONOMY
Commentary Stock Market Contributes to U.S. Wealth Inequality New data confirm growth in inequality, but show it has not been linear. Was March China’s Inflexion Point? Fixed asset investment and credit growth were among the first to show improvement. Commodity Outlook: Global Oil Market Surplus Vanishes OPEC’s estimated output for March implies a nearly balanced oil market. U.S. Macro Outlook: Bashing the Fed The economy got a recent lift from the central bank, but the criticism will go on. » VIEW MORE COMMENTARY
Today's Economic Indicators
United States Moody's CMBS Delinquency Tracker Mar. 2019: 3.63% The Moody’s Delinquency Tracker total delinquency rate dropped 15 basis points to 3.63% in March. United States MBA Mortgage Applications Survey April 19: -7.3% The top-line market index dropped again the week of April 19, falling 7.3%, as purchases and refinancing cooled again. United States Moody’s Analytics Policy Uncertainty Index April 19: 112.4 The four-week moving average in our U.S. policy uncertainty index fell from 114 to 112.4 in the week ended April 19. United States Business Employment Dynamics 2018Q3: 7.4 mil During the third quarter of 2018, a near universal count of private employment data reveals that U.S. net job gains narrowed to only 27,000, down from 437,000 in the prior quarter. Canada Monetary Policy Apr. 2019: 1.75% The Bank of Canada signaled that rates are not going up any time soon as policymakers downgraded their growth expectations. United States Oil Inventories April 19: 460.6 mil barrels A surprise increase in oil inventories will put downward pressure on oil prices. South Korea GDP 2019Q1: » VIEW MORE ECONOMIC INDICATORS |