Global Economic Prospects 2014

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Prospects Daily: Global equities start the month on weaker note, Eurozone manufacturing sentiment at 29-month high, India’s Manufacturing Purchasing Managers’ Index improves

Financial Markets…Global equities started December on a cautious note, after they outperformed other global assets for a third month in November, as disappointing economic figures from France and Spain, heightened geopolitical risk in Ukraine and Thailand, lingering territorial dispute in the South China sea offset signs of strengthening  manufacturing activity in China, the U.K., and Germany.  An encouraging reading on China’s factory activity got the nation’s stock markets off to a relatively strong note, but later lost ground after a relaxation of 14-mont

Prospects Daily: U.S. equities edge higher on U.S. consumer spending and inflation data, U.S. Fed Chief and Bank of England hint at prolonged low short-term rates, South Africa’s headline inflation slows for the second month in a row

Financial Markets…U.S. equities edged higher in morning trading Wednesday as encouraging data on U.S. consumer spending and inflation in October diminished expectations for Fed’s December tapering. The S&P 500 gained 0.2%, after climbing as much as 0.4% earlier, and the Dow rose 0.1%. Investors are awaiting a release of the Federal Reserve’s recent policy meeting minutes that may provide some clues on the timing of reduction in the monthly stimulus program.

Prospects Daily: Global equities climb to a near 6-year high, OECD Q3 economic growth stable at 0.5%, Nigeria’s GDP growth accelerates in Q3

Financial Markets… Global equities climbed to a near 6-year high on Monday as Chinese government announced its most comprehensive economic and social reforms since the 1990s. Growing expectations of continued stimulus in the U.S. also weighed positively on market sentiments. The benchmark MSCI world stock index rose 1.6% to its highest level since January 2008. Notably, china’s offshore stock index (traded in Hong Kong) jumped 5.6%, while the country’s benchmark Shanghai Composite Index climbed 2.9% amid prospects of ambitious economic reforms. U.S.

Prospects Daily: U.S. equities reach new highs, Yellen signals continued stimulus program, Malaysia’s GDP growth strengthens in Q3

Financial Markets…U.S. stocks extended their gains on Friday, with the Dow and the S&P 500 indexes hitting new record highs, following reassuring comments by Federal Reserve chair nominee Janet Yellen that the central bank will maintain stimulus. The Dow gained 0.3% in morning trade, while the S&P 500 added 0.2%, heading for a six-consecutive week of gains. Still, gains were somewhat limited after data showed manufacturing in the New York unexpectedly shrank in November while U.S. industrial production decline in October.

Prospects Daily: Developing country stocks drop for the 9th day, Japanese consumer confidence index falls, Indonesia’s central bank raises benchmark interest rate

Financial Markets…U.S. and German government bond prices declined as signs of improvement in the world’s largest economy added the case for the Federal Reserve to taper its stimulus program sooner than expected. The benchmark 10-year U.S. Treasury yield climbed to as high as 2.79%, the highest level since September 18, while the comparable German bund yield rose to a nearly three-week high of 1.79%.  Notably, longer-term U.S. Treasuries have declined 11% thus far this year, the worst performer among major sovereign bonds worldwide.

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