Macro Briefing Notes (unlocked)
The Macro Outlook for w/c 16 December 2024
Key events this week – US Fed rate decision, BoJ & BoE meetings, key data releases; US PCE inflation & retail sales, global CPI reports, and S&P prelim PMIs Recap from last week: Implication of US inflation on Fed rate cut expectations. Last week’s firmer...
The Macro Outlook for w/c 9 December 2024
Key events this week – US CPI & PPI, Central bank decisions; RBA, BoC, ECB, & the SNB Recap from last week: Mixed signals from the US labor market. Fed Governor Waller's speech last week addressed the central question facing the FOMC ahead of its meeting next...
The Macro Outlook for w/c 2 December 2024
Key events this week – US non-farm payrolls, Fed Chair Powell & Gov Waller speeches Recap from last week: Slower progress on US inflation. The US Fed's preferred PCE inflation measure for Oct remained firmer, as both headline and core PCE inflation increased...
The Macro Outlook for w/c 25 November 2024
Key events this week – US Thanksgiving holiday, US PCE inflation & FOMC minutes, RBNZ meeting, more global CPI reports Recap from last week: S&P prelim PMIs for Nov and global inflation reports; slowing growth and persistent inflation. Broadly, the S&P...
The Macro Outlook for w/c 18 November 2024
Key events this week – US housing data, S&P prelim PMIs for Nov, global inflation reports, and RBA minutes. Recap from last week: Progress on US inflation and implications for the FOMC. US CPI for Oct highlighted several important points. US inflation has...
The Macro Outlook for w/c 11 November 2024
Key events this week – US CPI, PPI, & retail sales, Fed Chair Powell speech Recap from last week: The US Presidential election and central bank meeting highlights. Despite the heightened pre-election uncertainty, US President Trump and the Republican Party are...
The Macro Outlook for w/c 4 November 2024
Key events this week – US Presidential election, FOMC, BoE, and RBA meetings Recap from last week: Implications of US data for the FOMC Two recent quotes from US Fed officials provide a framework for assessing the significant data from last week; “If the economy...
The Macro Outlook for w/c 28 October 2024
Key events this week – US labor market, PCE inflation, & GDP Q3, Aus CPI Q3, BoJ meeting, Euro Area GDP Q3 & prelim CPI Recap from last week It was generally a quiet week of data last week, ahead of the important releases this week. Commentary in the latest US...
The Macro Outlook for w/c 21 October 2024
Key events this week – US durable goods orders, Fed Beige Book, PBoC & BoC meeting, S&P prelim PMIs Recap from last week; A More Deliberate Approach for US Rate Cuts Amid Global Inflation Trends The implications of US data and speeches last week contrasted...
The Macro Outlook for w/c 14 October 2024
Key events this week – US retail sales, ECB meeting, CPI - Euro Area, Japan, Canada, NZ, and the UK, China data Recap from last week; FOMC minutes, firmer US CPI, and the spike in initial claims The FOMC minutes reflected the details of the decision to cut rates for...
