Production in Iran is tumbling as sanctions begin to bite OPEC+ only able to partly compensate for lower Iranian production…
Strong job report from the US. Massive job gains, even lower unemployment, and an uptick in wage growth. Some strength is due to the end of the GM strike, but overall signal is a strong labor market. Federal Reserve will not cut rates next week. #macrobond
Not good, very bad numbers for manufacturing production in Germany in October. Production declined by 1.6% MoM, and is now down more than 6% YoY. It is the largest annual decline since 2009. New orders also remain weak. There is still no sign of a overall turnaround #macrobond
Latest round of PMIs points to contraction in all sectors of UK economy. So far, real wage gains have supported consumption (and demand for consumer services), but question us how much lower foreign demand and Brexit uncertainty will push down corporate investments #macrobond
ISM manufacturing optimism declined in November, reflecting continued uncertainty about trade. The re-introduction of US tariffs on steel and aluminium from Brazil and Argentina as well as steps against the French digital tax point to more and not less uncertainty ahead
Large drop in Italian consumer confidence highlights the downside risks to Europe's most fragile economy. The current left-populist government is doing little to improve economic structures, and growth is likely to stay anemic #macrobond
