Private Banking Global “Wrap Up” – Q3 2015
Judging by the minimal changes to consensus 2015 economic growth forecasts over the quarter, one could be forgiven for thinking it was a sleepy summer for investors. In reality it was quite the opposite.
The Fed holds fire....for now!
The Fed holds fire....for now! The reporting around last night’s Federal Reserve decision on interest rates was almost Superbowl like – Bloomberg ran radio and television simulcast coverage of the announcement and one almost couldn’t help counting down the clock (positioned prominently in the corner of the television screen) towards the announcement.
Q2 2015 Irish National Accounts - Economy grows by a whopping 6.7% in first half of 2015!
The Central Statistics Office yesterday published Irish national accounts for the second quarter of 2015. These accounts showed that the economy grew by 1.9% in both GNP and GDP terms in the quarter – a very strong performance (see table 1). On top of this the first quarter GDP growth estimate was increased to 2.1% from 1.4% previously, helped by stronger investment spending.
China battles its ‘impossible trinity’!
Of all the happenings in investment markets over the past couple of weeks, China’s decision to devalue its currency last week has attracted most attention from investors. It has been a factor in the weakness in commodities (and commodity related currencies) and Asian and Emerging market equities in the past week while it has also boosted ‘safe haven’ investments in government bonds and gold.
Private Banking Global 'Wrap Up' – Q2 2015
US economic news has improved a little of late, particularly from the middle of the second quarter onwards. Consumer spending indicators firmed up slightly as did manufacturing data. Furthermore, investors saw continued progress in unemployment rates which fell to 5.3% in June from 5.7% in January.