Mind The Gap

There has been a raft of publications from Markit Economics in this morning’s trading session, after the Chinese non manufacturing PMI was printed early in the overnight/early morning session coming in at a bullish 55.4. The European services PMI print came in at 52.2, edging up by a percentage point, whilst Spain’s fell to 49 […]

  The U.S.A has begun to use its final extraordinary measures in order to avoid breaching the nation’s debt limit, Treasury Secretary Jacob J. Lew said as he urged Congress to increase borrowing authority. By his calculations the USA will run out of funds by October 17th. Spending by the USA govt. can reach $60bn

So far the partial shutdown of the USA government has failed to spook the markets with the majority of the leading European equity indices being up in early trading. However, much will depend on the length of the shutdown if it is to severely impact the markets. Once the USA markets open, accompanied by statements

In many ways it defies belief that a modern (supposed) democracy can reach a situation were its economy can be harmed due to the stubbornness of its politicians. The impasse regarding the debt ceiling and setting a new budget appears no closer as the govt. apparatus walks slowly towards an inevitable shutdown. Not even the

One aspect readers may have noticed, regarding the stand off and potential shut down of the USA government, is the lack of estimates on the rise required to the debt ceiling. Some analysts suggest it will be as low as a trillion dollars, a huge sum when observed in isolation, but in context of the

The UK GDP growth, previously estimated at 0.7% for the quarter, has been confirmed by the UK’s ONS in their bulletin this morning. However, the ONS has revised down its forecast for year-on-year growth. the UK’s recovery over the last year has been weaker than first thought; the UK economy only grew by 1.3% over

German consumer confidence has hit its highest level since before the financial crisis began. The monthly GfK survey of German consumers found a “clear upward trend”, as Germany’s public appear more willing to spend then ever before. Economic expectations were also up, as the eurozone pulled away from recession. GfK’s index of consumer climate beat

Although it feels like last year since we last visited this problem, it was in fact 2011 when the USA government was close to shut down as a consequence of the two main parties not reaching an agreement to raise the national debt ceiling. Many of us thought at the time that all Obama’s democrats

There were two notable observations regarding the German general election; firstly many are classing Chancellor Merkel’s comprehensive victory as a reward for her overall superb management of the European crisis, ensuring that domestically the German electorate didn’t suffer the ravages that so many right-wing leaning mainstream media publications predicted. Secondly, the voter turnout was circa

Readers will have been aware that over recent months the rupee has come under intense pressure on the foreign exchange markets falling to record lows versus the dollar, whilst the dollar was also losing value versus its major currency peers. The Reserve Bank of India surprised the markets in the overnight/early morning session by announcing