Macro Update On U.S. The solid employment growth continues to support consumer spending. Inflation pressures are rising. On the other hand, the weakness in commodities has led U.S. energy and mining firms to cut back investment in plant and equipment spending. On Europe. Although the Brexit has complicated the outlook on Europe, its growth is… Continue reading

Economic Update Growth. Largely driven by less weakness in net exports and nonresidential fixed income, growth is expanding. Sub-trend growth and inflation are what markets will be pricing in over the next three to six months. Jobs. Total nonfarm payroll employment increased by 287,000 in June[1], after changing little in May (+11,000), massively topping analyst… Continue reading