10 Things You Need To Know - January 30, 2018

Key data releases this week include: personal income and spending (Mon), consumer confidence (Tue), pending home sales (Wed), FOMC rate decision (Wed), ISM manufacturing (Thu), and nonfarm payrolls (Fri).
Haver
January 26, 2018
Economic growth eased slightly at yearend as GDP posted a 2.6% advance (AR) during Q4'17, following roughly 3.0% growth in each of the prior two quarters. Growth picked up, however, from Q4-to-Q4 to 2.5%, its quickest advance in three years. Expectations had been 3.0% growth last quarter in the Action Economics Forecast Survey.
Haver
January 24, 2018
The Federal Housing Finance Agency's (FHFA) index of U.S. house prices rose 6.6% y/y during November. The rate of increase has picked up from its low of 5.2% in 2014. In the month of November, prices rose 0.4% m/m after a 0.6% October gain, revised from 0.5%. It was the weakest rate of increase since July.
Reuters
January 25, 2018
The European Central Bank has stated its intention to keep interest rates at their low level while maintaining its bond-buying scheme at least through September, adding it will be prepared to step up the effort if necessary.
Xinhua News Agency
January 26, 2018
Financial Times
Thursday, January 25, 2018
Profit of China's biggest industrial firms rose 21% year over year in 2017, the National Bureau of Statistics said. It marked the fastest pace of growth since 2012.
Barron’s
January 29, 2018
Tax reform will spur the reflow of some of the billions of dollars that U.S. corporations have parked overseas. The return of those prodigal dollars ought to be pushing the dollar higher, but it hasn’t yet. Those funds could amount to as much as $300 billion.
Barron’s
January 29, 2018
Based on data going back to 1950, the January barometer has been wrong only nine times in 68 years, an 87% accuracy ratio.
Robert Shiller, Yale University/Barron’s
January 29, 2018
“The truth is that it is impossible to pin down the full cause of the high price of the U.S. stock market. The lack of any clear justification for its high CAPE ratio should remind all investors of the importance of diversification, and that the overall U.S. stock market shouldn’t be given too much weight in a portfolio.”
Bloomberg
January 29, 2018
Bloomberg
Sunday, January 28, 2018
Janet Yellen will attend her last meeting as head of the Federal Reserve this week, as Jerome Powell prepares to take over. Observers say a post-meeting statement likely will include some refocusing of the standard economic-conditions response.
Reuters
January 22, 2018
Politico Pro
Monday, January 22, 2018
January 23, 2018
The Washington Post
US tax cuts will briefly accelerate growth of the global economy but benefits will be short-lived, the International Monetary Fund says in a report presented at the World Economic Forum. The IMF raised its global growth forecast to 3.9% for this year and 2019.