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Day: December 21, 2018

‘I’m stunned’ by all the recession talk — Mohamed El-Erian warns against self-fulfilling prophecies

Economist Mohamed El-Erian is warning Wall Street that being overly concerned about an economic recession could actually cause one. “I’m stunned by all this talk of recession,” El-Erian said on CNBC’s “Squawk Box” on Friday. “For us to get into a recession, the rest of the world has got to really slow down dramatically.” While …

‘I’m stunned’ by all the recession talk — Mohamed El-Erian warns against self-fulfilling propheciesRead More

US: Good Times for Consumers, Spending Solid and Inflation Contained

Personal income rose 0.2% in November (month-on-month), slightly below expectations for 0.3%. But, personal spending more than made up for the disappointment, rising 0.4% on top of an upward revision to October (+0.8%, prev. 0.6%). Inflation readings were soft. Overall prices were up 0.1% month-on-month and 1.8% year-on-year. Core prices (excluding food and energy) rose …

US: Good Times for Consumers, Spending Solid and Inflation ContainedRead More

Canadian Firms Remain Cautiously Optimistic

Canadian businesses’ spending intentions remained solid at the close of the year, as captured by the Bank of Canada’s quarterly Business Outlook Survey (BOS). The ‘BOS Indicator’ summary measure fell slightly, to 2.2 (from 2.8), but is still elevated by historic standards. Expectations for future sales dropped somewhat, with the balance of opinion at a …

Canadian Firms Remain Cautiously OptimisticRead More

Canadian October Retail Sales Inch Higher

Highlights: Retail sales increased 0.3% in nominal terms in October, but in part boosted by the incorporation of Cannabis sales post October 17th legalization. Overall sale volumes were flat in the month. E-commerce sales (which likely contain significant Cannabis sales from Ontario, where Cannabis is initially only being sold legally online) 19.3% year-over-year, well above …

Canadian October Retail Sales Inch HigherRead More

Week Ahead – Markets to Enter Christmas Lull; Risk of Volatility in Thin Trade

As the holiday period begins, markets will go into quiet mode for the next two weeks with little on the economic agenda to keep traders at their desks. However, with the market sentiment being stuck in risk-off mood, there is a threat that thin trading conditions could lead to some unexpected volatility, particularly from any …

Week Ahead – Markets to Enter Christmas Lull; Risk of Volatility in Thin TradeRead More