As the last weekend in August approaches, central bankers are readying themselves for a retreat in the beautiful Jackson Hole, Wyoming – host to the annual Kansas City Fed symposium. A forum for informal discussion among central bankers, the symposium is not intended as a tool to influence monetary policy… Read More »
Gero Jung -
Eurozone GDP growth reached 0.6% QoQ last quarter, with solid contributions from the Netherlands, Germany and France. Positively, Italian activity picked up slightly (+0.4% QoQ). We note that German GDP growth was revised up in Q1 (by 0.1 point), while second quarter growth reached 0.6% QoQ. By expenditure, positive contributions… Read More »
In reaction to the Bank of England (BoE) Monetary Policy Committee (MPC) meeting, Tim Graf, head of macro strategy for EMEA at State Street Global Markets, and Alan Wilson, senior investment manager of active fixed income at State Street Global Advisors, offer their views. Graf comments: “The downside surprise in… Read More »
Confidence in North America Rose by 10 Points, while Cautious Market Participants and Corporate Debt Build-Up Lead to a Decrease in Confidence in Europe and Asia The Global Investor Confidence Index increased to 108.9, up 7.9 points from June’s revised reading of 101. The improvement in sentiment was driven by… Read More »
As was expected, the ECB left interest rates unchanged and is committed to asset purchases of €60bn per month until the end of 2017 “or beyond, if necessary”. It appears clear that the ECB is taking a prudent path to any potential announcement to reducing its very easy monetary policy… Read More »
In reaction to the European Central Bank (ECB) meeting today, Timothy Graf, head of macro strategy at State Street Global Markets and Brendan Lardner, senior portfolio manager for global active fixed income at State Street Global Advisors, offer their views. Graf commented: “After a recent flirtation with more upbeat rhetoric,… Read More »
Market participants had been looking to Fed Chair Yellen’s testimony on Capitol Hill for any clear indication that the Fed had increased confidence in the path of interest rate hikes and in announcing the timing to start the process of running down their $4.5 trn balance sheet. While Yellen and… Read More »
The strong employment report went a long way toward dispelling prior disappointment, and we think it should keep the Fed’s policy normalization path on track. Labor Market Continues to Display Strength, Fed Policy Evolves, Yet Eyes Must Remain on Other Central BanksLast month we argued that while headline payrolls figures… Read More »
State Street Global Exchange released the results of the State Street Investor Confidence Index® (ICI) for June 2017. The Global Investor Confidence Index declined slightly in June. The Index now stands at 101.0, down from May’s revised reading of 102.6. Confidence among both Asian and North American investors declined, with… Read More »
Consistent with a year that has delivered political surprises, the UK general election has yielded another unexpected election result, or rather no clear result. We now face the prospect of a hung parliament or a very small Tory majority. Theresa May, the Tories and the SNP are the losers in… Read More »
Podcast