Global Economic Prospects 2015

The global economy is still struggling to gain momentum. Read more ...

Development Prospects

Providing information, analysis, and advice on global trends in the world economy.  Find out more ...

Global Economic Monitor

Now free. Daily and monthly updates on global economic developments and relevant topical issues. Find out more ...

Syndicate content

Prospects Daily: Euro weakens on prospects of ECBs’ corporate-debt purchase, U.S. existing home sales stronger-than-expected, China’s Q3 GDP growth slowest since the financial crisis

Global Macroeconomics Team's picture
Financial Markets

The prospects of European Central Bank corporate-bond purchase weighed negatively on the euro and boosted European shares.  The shared currency weakened against most of its 16 major counterparts as the ECB started to buy covered bonds and the private-sector report suggested that the ECB is considering expanding stimulus by purchasing corporate debt to bolster the euro-zone economy. Meanwhile, the Stoxx Europe 600 stock index advanced 2.1% in afternoon trading after falling to its lowest level of 2014 last Thursday.

Prospects Daily: Moody’s cuts Russia’s credit rating, ECB starts buying Eurozone covered bonds, Russian investment falls again, confirming weak economic outlook

Global Macroeconomics Team's picture
Financial Markets

Portugal led a sell-off in euro area’s high-yielding government bonds on Monday amid increased recession fears.  The Portuguese 10-year bond yield soared 15 basis points (bps) to 3.46%, while the comparable Italian bond yield jumped 10 bps to 2.6%, extending last week’s rise of 17 bps.  Greek bonds declined as well, extending losses that triggered a sell-off in the periphery last week.  In contrast, safe-haven German bunds advanced, with the 10-year yield sliding 2 bps to 0.84%.

Prospects Weekly: Remittances to developing countries are on course for 5.0 percent growth this year, faster than the 3.4 percent growth recorded in 2013

Global Macroeconomics Team's picture
Remittances to developing countries are on course for 5.0 percent growth this year, faster than the 3.4 percent growth recorded in 2013. The acceleration is driven largely by expanding flows to Asia and Latin America. Remittances to developing countries are expected to continue climbing over the medium-term, reaching $454 billion in 2015. The cost of sending remittances is falling, but remains high along key corridors, especially to countries in Sub-Saharan Africa.

Prospects Daily: ​Developing-country stocks and currencies tumble, U.S. jobless claims show unexpected decrease to 14-year low while industrial production surges, Turkeys’ current account deficit less than expected

Global Macroeconomics Team's picture
Financial Markets

Developing-country stocks and currencies tumbled on Thursday amid deepening worries over slowing global growth. The MSCI emerging market stock index slumped 1.2% with Indian shares dropping to a 2-month low, while the benchmark gauge that track 20 developing-country currencies fell 0.6% with the Russian ruble sliding to a fresh record low. Oil prices continued to decline as well with West Texas Intermediate (WTI) crude fell below $80 a barrel for the first time since June 2012.

High Income Economies

Prospects Daily: U.S. Treasuries post biggest weekly gain in six months, Japan’s Leading Index rises for first time this year,Turkey’s industrial production climes 5.2% y/y in August

Global Macroeconomics Team's picture
Financial Markets

U.S. Treasuries slid for a fourth week as the market welcomed the dovish tone of September’s FOMC minutes. The FOMC minutes stressed risks that external demand growth and the surging dollar might curtail growth and inflation in the U.S.. The benchmark 10-year yield has declined 13 basis points this week, the most since the week ended March 14. The yield has reached 2.28% yesterday, the lowest since June last year.

Prospects Daily: U.S. Treasuries remain strong on safe-haven demand, IMF urges more government spending with world economy stuttering, South Africa’s August manufacturing down 2.1% y/y

Global Macroeconomics Team's picture
Financial Markets

Yields on the benchmark U.S. 10-year Treasuries were trading at near-lowest level in 15 months as mounting concerns over slowing global growth boosted the safe-haven appeal for the U.S. government debt. The U.S. 30-year yields also reached the lowest level since May 2013 before a $13 billion auction of the 30-year securities today. European bond yields from France to Portugal fell to record lows after German exports dropped the most in August since 2009.

Pages