BUYERS’ STRIKE HIT HOUSING AND STOCKS IN DECEMBER

FAST FACTS ABOUT TODAY’S ECONOMIC DATA: * Existing Home Sales put up a clunker in December (down -10% Y/Y). * German ZEW Confidence remains depressed, but improved in December. * Still no BREXIT fallout in the U.K. Job Market as unemployment improved. * Mexico risks...

CHINA TRADE SHOWS WEAK GROWTH, BUT NOT RECESSION

FAST FACTS ABOUT TODAY’S ECONOMIC DATA: * China trade surplus improved as exports declined less than imports. * China cumulative trade is still up +12.6% Y/Y.   * China’s oil imports surged in December, which suggest China’s economy is still growing. * In Yuan terms...

TRUMP MAY WANT TO KEEP THE TARIFFS

FAST FACTS ABOUT TODAY’S ECONOMIC DATA: * U.S. Tax Receipts fell -1.1% Y/Y in 2018, but would have been down -3.3% without tariffs. * U.S. ISM Services Index slowed, and backlogs are weak, but New Orders increased. * European Retail Sales turned higher in November,...
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