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21. August 2017
No updates on August 22 and August 29 - Global Macro Update
18. August 2017
USA: Strong UoM Consumer survey, as households are exposed to tailwinds created before Trump gained power
Germany: Producer price inflation remains 'surprisingly' high despite falling energy prices - Is the European Central Bank too complacent?
China: Home price inflation slows, but Beijing risks widening the gap between supply and demand
17. August 2017
Strong details in the Philadelphia Fed survey support the case of yet another growth leg
British retail sales slow as inflation makes an inroad into households' real purchasing power
16. August 2017
USA: Weak housing starts report, but homebuilder sentiment index is aharbinger of strong activity in H2
Britain's unemployment rate declines to a new record low, ironically, as consumer confidence falls to the lowest since 2013
Euro-zone expansion gains momentum - Dutch growth hits highest level since 2007 - 'the weakest link' is also gaining momentum 
Brazil: More signs of growth rebound will not prevent the central bank from reducing policy rates by another 200 basis points
15. August 2017
US retail sales bounce back strongly in July - Empire State index skyrockets to highest level since 2014
China: Credit expansion moderates but Beijing has no intentions of slowing growth markedly; increasing household debt makes the economy more vulnerable to home prices
Swedish inflation hits the highest level since March 2010 - Europe remains headed towards tightening
Solid German Q2 GDP report supported by strong domestic demand - short-term outlook is improving but clouds on the horizon
14. August 2017
Japan: Very strong Q2 GDP report based on healthy growth although of short-term nature - but foes and 'friends' could derail the recovery
Chinese growth slows in July; Beijing will not make the same 'mistake' in Korea as Russia did in Germany
4. August 2017
There will be no updates on August 7 to August 12 - Global Macroeconomic Update
USA: Strong employment report - more people are joining the labour force - labour shortage will force wage inflation higher
Germany: Industrial orders boosted by strong domestic demand; domestic and foreign demand are on the rise - IFO details
3. August 2017
USA: Weak ISM service survey will reinforce downward pressure on the US dollar
Strong June Euro-zone retail sales report - leading indicators herald very strong H2 growth
India cuts policy rates as PM Modi's economic policy fails - Everything that could go wrong has gone wrong!
2. August 2017
US ADP report shows solid employment growth - significant up-revision of June number
Strong European tailwind, but the immigrant crisis may soon haunt unity
1. August 2017
US manufacturing ISM survey remains upbeat, as inflation pressure makes a comeback due to higher commodity prices and weaker dollar
Euro-zone economy expands at fastest pace since 2011 - bright outlook is harbinger of stronger growth
China: Caixin manufacturing index increases to the highest level since March - Strong infrastructure spending and improving foreign demand
31. July 2017
Euro-zone inflation remains benign in July, but households' inflation expectations remain at the highest level since 2013
Japan: Industrial output gains momentum - but geopolitical risks could derail the recovery
China PMI survey: Sentiment declines marginally - Input-price index jumps as steel and iron prices increase
28. July 2017
US economy grew at a stronger pace than expected in Q2 - downward revision of growth in the previous quarters
Robust Swedish Q2 GDP growth surprises the Riksbank even though soaring business sentiment has projected such an outcome since early 2017
EU Commission survey heralds strong H2 growth in the Euro-zone - appreciating euro will improve growth outlook but it could harm the stock market
France: Strong Q2 GDP report - underlying details show much stronger picture - outlook is improving
Japan: Labour shortage is becoming highly visible - PM Abe in his political death throes
27. July 2017
US corporate spending is on the rise; we still need evidence of a broad-based investment boom
Spain's unemployment rate drops to lowest level since 2008 - economic outlook improves
Germany: Households' income expectations jump to an all-time high - strong euro will create more growth than a beggar-thy-neighbour currency
South Korea: Soaring imports put a drag on Q2 growth - Sentiment is improving although the risk of military intervention in North Korea is on the rise
26. July 2017
US New Home Sales report and other 'long-term' indicators show no signs of being 'late cycle' - leaves room for the Federal Reserve to raise policy rates
Britain - Weak pound puts a drag on growth in Q2
French consumer confidence plunges: Oops! Macron is a neoliberal
25. July 2017
US consumer confidence bounces back sharply - Federal Reserve tightening remains on track
US home prices are still exposed to tailwind - but growth acceleration will keep Federal Reserve on track of higher policy rates
Germany: IFO index hits a new record high as stronger euro has no major impact on sentiment
France: Business sentiment stays at an elevated level although President Macron faces increasing opposition
24. July 2017
US existing home sales report: Home prices see little resistance on the upside as supply is low
France - Honeymoon is over for President Macron
21. July 2017
Taiwanese and South Korean trade statistics show no signs of softening as multiple tailwinds support demand - but political tensions in Beijing pose a potential risk
20. July 2017
A mixed US Philadelphia Fed survey - but corporate spending intentions hit a new all-time high
Germany - Oil price will cut headline inflation in the second half of 2017
Australia: The economy is gaining momentum; capital expenditure plans are on the rise in the mining sector
By Invitation: China's dilemma - new global climate leader with brown footprints across the world
19. July 2017
US housing starts jump as the economy is not exposed yet to any major headwind
Japan: Strong Reuters Tankan survey will force BoJ to provide a more upbeat assessment of the economy
18. July 2017
German ZEW survey: Buoyant business sentiment is a reflection of strong demand and to a lesser extent strong growth
Britain - Energy prices put a lid on headline inflation
China: Home price report shows strong underlying demand - some policy measures are backfiring
17. July 2017
US Empire State survey loses momentum in July - but the short-term manufacturing outlook remains strong
China: Q2 growth surprises to the upside - a new 'anti-corruption' campaign could put a lid on growth ahead of the 19th National CPC Congress
Delayed update: US manufacturing sector fails to transform upbeat sentiment into strong output data - UoM Consumer sentiment declines
14. July 2017
Benign US inflation and weak retail sales report dampen monetary tightening expectations
Euro-zone Trade report shows the recovery is gaining momentum - but trade surplus with the United States remains at an elevated level
13. July 2017
US PPI report: Benign inflation confuses Yellen - softer dollar index will bring CPI inflation back in the range of 2% to 3%
Britain - RICS housing survey forecasts slowing residential house prices - Jeremy Corbyn has 8 percent lead in opinion polls
China: June trade report continues to show strong domestic activity on the mainland - H2 will also show steady growth
12. July 2017
Euro-zone: Industrial production jumps, as manufacturers benefit from the 'peak of cheap financing'
China: Credit expansion remains relatively strong taking policy tightening measures into account as Beijing still seems willing to support growth
Britain: Unemployment rate declines to a new record low, as real wage erosion gains momentum
Delayed update: US NFIB small business survey shows strong growth in 2017 and the risk of slower growth in 2018
7. July 2017
There will be no updates on July 10-11 due to a business trip
Brazil: Inflation could soon move below the lower part of the central bank's target range
Strong US labour market report justifies the current trend of monetary tightening in spite of moderate wage inflation
A stubborn Bank of England risks turning 'J-Curve' into 'L-Curve' effect
The Bank of Japan is gaining attention as global bond yields are increasing - a repetition of 1998-1999?
6. July 2017
A strong US ISM service survey keeps the Federal Reserve on a path of several more rate hikes
US ADP employment report disappoints, but the labour market remains very strong - A short 1994 comparison
Germany: Disappointing industrial orders report; demand is strong but shrinking capacity puts a lid on growth
Geopolitical risks will become more visible to investors as central banks are now on a path of normalising monetary policy
5. July 2017
Strong Euro-zone retail sales report as the economy gains momentum - global tightening is in the pipeline with or without higher inflation
China: Caixin service index declines - Beijing continues to bolster its 'firewall' as global liquidity tightens
4. July 2017
Global: Ample liquidity has 'disguised' a soaring number of geopolitical risks
3. July 2017
US manufacturing ISM index jumps as the next growth leg could prove highly costly for the current economic expansion
All global engines running at the same time will reinforce expectations of global liquidity tightening in H2
Japan: BoJ Tankan survey improves - PM Abe's LDP party heavily defeated in Tokyo Assembly election
30. June 2017
US personal income data report is a reminder that the next growth leg needs to come from corporate spending
German labour market is very tight in spite of a disappointing June report
Japan - Industrial production plunged in May, but outlook remains positive - Global tightening poses risk to the BoJ strategy
China - Upbeat PMI surveys surprise investors although stronger business sentiment is in line with anecdotal evidence; export index jumps to the highest level since 2012
29. June 2017
China - Current account surplus declines in Q1 - 'Error and omissions' remain at suspiciously high level
EU Commission survey shows growth acceleration and strong employment growth adding more pressure on ECB President Draghi
Germany: GFK household income expectations hit a new all-time high
South Korean business sentiment remains moderately upbeat - but a new trend of tighter global liquidity poses risk in the first half of 2018
28. June 2017
Spain remains on a path of very strong growth - the country is much better prepared for ECB tightening than Italy
President Draghi's ego makes it harder to disguise that the ECB is far behind the curve
France - Consumer sentiment is skyrocketing after Macron gains victory - inflation expectations plunge
27. June 2017
US consumer survey - Strong cyclical tailwind prevails, as plentiful-of-jobs index hits the highest level since July 2001 - Federal Reserve remains on path of more tightening
US home prices will remain in steady upward trend in 2017; but further monetary further tightening will cool home price increases in 2018
Italy - Economy shows tentative signs of gaining momentum, as Rome's bailout gives rise to second thoughts in Berlin
China - Short 'anecdotal evidence' update of economic growth