Today's Economy

Growth in Chile, Colombia and Peru is likely to slow or stall as high unemployment hinders demand growth.

Sweden's central bank has eschewed rate cuts in favour of large-scale QE and a lending facility.

In the not too distant future, a reduction in the outstandings of corporate debt is likely.

South Korea's exports returned to growth, but we are cautiously optimistic.

Commentary

With each passing week the potential for another, but much needed, U.S. fiscal stimulus has dimmed.

Stock market values should gradually decline in the near term, followed by a gradual recovery.

There will be a deep contraction this year and strong rebound in 2021.

Data released last week offer no clear evidence that the economy’s recovery accelerated.

Today's Economic Indicators

United States
Philadelphia Fed Nonmanufacturing Survey
Sep. 2020: 20.4
Nonmanufacturing activity expanded at a moderate clip in the Third Federal Reserve District.

United States
Richmond Fed Manufacturing Survey
Sep. 2020: 21
The manufacturing recovery in the Richmond Federal Reserve District accelerated in September, according to the Fifth District Survey of Manufacturing Activity.

United States
Existing-Home Sales
Aug. 2020: 6.00 mil
Existing-home sales advanced 2.4% in August, adding to June's and July’s sizable gains and reaching their highest level in 14 years.

Singapore
GDP - Advanced
2020Q3:

Argentina
GDP
2020Q2: -19.1%
Argentina's economy contracted 19.1% y/y in the second quarter, after contracting 5.2% y/y in the previous quarter.