There was little change in the financial markets last week. Equity markets ended the year near their highs, long rates continued their very slow rise and the euro strengthened slightly against the dollar. So despite the uncertainty and risks surrounding the Omicron variant, it seems that optimism continues to prevail.
Very few economic indicators were released: US jobless claims fell back below 200k and China’s PMIs were virtually unchanged in December. It seems that the economic theories of the Turkish President are being challenged by the inflation figures: 36% in December, “despite” the interest rate cut. A direct consequence of the collapse of the currency.
Manufacturing PMIs will be published today: they could be revised downwards from their first estimate due to the impact of Omicron.
Get more analysis and data with our Premium subscription
Ask for a free trial here
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.