Bassanese Bites: Mixed Signals – November 25 2019
Mixed signals with respect to progress in US-China trade talks saw global equities and bond yields ease back last week. Otherwise there was relatively little to focus on, apart from the fact the Markit US service and manufacturing indices were a bit better than expected on Friday. As noted last week, this suggests a tentative bottoming in the two-year long global growth slowdown even before the US and China formally ink a deal.
It will be again another data light week globally with focus likely to remain on the trade talks. US durable goods orders – a measure of business investment – will attract some interest on Wednesday, though the market anticipates a continuation of the recent soft trend for now. A bit like Australia’s boxing day, Friday is also the “black Friday” post-Thanksgiving day for US retail sales bargains.
