Julius Baer Research | Consumer demand actually looks quite good in all markets, where the overall economic backdrop has improved, with less unemployment and rising real wages. The private consumption component of gross domestic product (GDP) varies between 60% and more than 70%, as is the case for the US, in advanced economies.
This coming Friday November 25th is celebrated throughout the world as Black Friday. The name originated in the United States in the 1960s and refers to the shopping day after Thanksgiving. The first estimates on pre-Christmas sales (Black Friday and Cyber Monday) point to a record season this year.
AXA IM | Mexico, together with China, appears to be the country most exposed to Trump’s economic policy given its vicinity and close trade relations with the US. The Mexican peso has depreciated by 10% relative to its pre-election day closing level, the stock market is down 6% and the local currency sovereign 10-year rate has shot up by 112bps.
In the wake of Trump’s win there has been are record inflow of funds into the US stock market and a heavy outflow from bonds and emerging markets. Over $30 billion went into the US equity market in the week of November 16th, according to data published by EPFR Global.
According to ECB data, housing prices in the Eurozone have continued to rise in the second half of the year. Growth of 3.0%, picking up from the 2.6% increase in the first quarter and from the 2.2% rise registered at end-2015. In real terms, taking into account the GDP deflator, price levels are above their record average.
Joachim Koops | November 9, 2016, could become an American, transatlantic and global “Day of Fate” of another kind. The election of Donald Trump as the 45th president of the United States of America is feared by some as leading to a US exit from liberal order.
Nick Malkoutzis via Macropolis | What could Greece have expected from the visit of a US leader in the final days of his presidency, before he is replaced by someone who appears to be the antithesis in personal and policy terms? Not much. What did it get from Barack Obama’s brief stay in Athens? Probably more than it expected.
Santander has reached an agreement with Warburg Pincus and General Atlantic to buy back the 50% of its asset management arm it sold to the private equity firms in 2013.
On Tuesday, the Colombian government ordered an intervention in Electricaribe because there was a risk the company could discontinue its services. Electricaribe is an electricity distributor with 2.5 million clients on Colombia’s Caribbean Coast. Gas Natural owns 85%, while the remaining stake is in state hands.
One of the pending adjustments involved in the process of exiting the crisis is related to damaged assets, mainly property. This phenomenon has prevented the Spanish banks from showing off the huge restructuring efforts they have made with better figures.