Last week’s indicators showed that US consumer spending is still moving upwards. Retail sales rose by a steady 0.3% in January, while various consumer confidence indexes also gained ground. US consumers will no doubt continue to drive GDP growth in 2020 as their purchasing power soars.
The Japanese economy contracted 6.3% in Q4 2019, shrinking at its fastest pace in five years and coming in well below expectations. This was primarily because of the sales tax hike in October, which, when combined with the knock-on effects of the coronavirus outbreak, could push Japan into recession.
The euro dropped further against the US dollar on the back of lacklustre economic newsflow from the region. Industrial output fell sharply in December, weighed down by the 3.5% decline in production in Germany, where the manufacturing sector is still under pressure. But the recent uptick in leading economic indicators like the PMI suggests that the economic climate should improve.
The fever has gone down
Commodities – attractive opportunities
To go deeper
US stock-market volatility, as measured by the VIX index, reached levels not seen since the 2008 financial crisis. This shows that investors are extremely anxious about the current situation and the prospect of a recession in the USA. It also suggests that markets may now stabilise after the very sharp correction this month...
In light of the current health emergency situation caused by the Coronavirus (COVID-19) and in accordance with the latest indications from the Swiss cantonal authorities and the Swiss Confederation, we have taken important measures to protect the health of our customers, our staff and our partners.
These three words pronounced in July 2012 by the President of the European Central Bank (ECB) at the time were enough to reverse a financial crisis that had been in the making for several months. The European Monetary Union at that time was seriously threatened by the European government debt crisis. Above all, the Covid-19 epidemic triggered a health crisis...