Here is what happened in the Capital Markets this week.
The Weekly Bottom Line (please click link to open)
The Weekly Bottom Line, courtesy of TD Economics, includes a review of market performances, recent key economic indicators, a calendar of upcoming key economic releases, and other relevant data. The highlights from this week’s report include:
- U.S. economic data was relatively constructive this week; existing home sales remained near their multiyear highs, while real GDP expanded by a robust 2.6% (annualized) to cap off last year.
- The IMF upgraded its global economic forecast to 3.9% for this year and next. Managing Director Lagarde hailed it the “broadest synchronised global growth upsurge since 2010.”
- This year’s Davos meetings were focused on trade, with Trump, Ross and Mnuchin forming the core of the U.S. delegation. The Treasury Secretary grabbed headlines saying that a “weak dollar is good” for the U.S.
- The ECB and BoJ stood pat on rates, with the Fed likely to follow suit next week at Chair Yellen’s last meeting.