Key data releases this week include: CPI (Wed), industrial production (Wed), capacity utilization (Wed), Beige Book (Wed), housing starts (Thu) and building permits (Thu).
Haver
January 10, 2017
The National Federation of Independent Business reported that its Small Business Optimism Index surged 7.5% during December (11.1% y/y) to 105.8. It was the strongest level of optimism since December 2004. During all of last year, the optimism index eased to 95.3 from 96.1 in 2015.
Bloomberg
January 9, 2017
Joblessness in November across the eurozone stayed at its lowest level in eight years, with Germany reporting another industrial output rise and France claiming an improvement in business confidence. Overall unemployment figures in the region are half of what they were in 2008, prompting European Central Bank President Mario Draghi to talk of a "moderate but firming recovery."
Bloomberg
January 17, 2017
Chinese President Xi Jinping cautioned against protectionism as he pushed back against criticism of globalization by Donald Trump and other Western populists. “Protectionism is like locking yourself in a dark room, which would seem to escape wind and rain, but also block out the sunshine,” Xi told the World Economic Forum on Tuesday. “No one is a winner in a trade war.”
Reuters
January 11, 2017
China's State Administration of Foreign Exchange has told banks not to reveal the restrictions it has placed on capital outflows and to make sure their analysts remain silent about any negative view on the prospects for the yuan, several bank executives said. The regulator only gave the instructions verbally, the executives said.
Barron’s
January 16, 2017
BCA Research suggests Wednesday’s press conference by Trump could be a catalyst for a near-term correction. “Should such trends unfold, we would view them as a healthy correction from technical overbought levels and not the start of a major cyclical reversal.”
Barron’s
January 16, 2017
U.S. crude prices appear to have found a home at $50, since members of OPEC appear to be sticking to their cuts, with several – Saudi Arabia and Kuwait come to mind – cutting more than they agreed to.
Reuters
January 11, 2017
Bloomberg
Tuesday, January 10, 2017
January 10, 2017
The Wall Street Journal
The World Bank's Global Economic Prospects report indicates global growth may increase slightly due to recovering oil and commodity prices and possible changes in US policies. "A surge in US growth -- whether due to expansionary fiscal policies or other reasons -- could provide a significant boost to the global economy," the report says.
Bloomberg
January 17, 2017
The Wall Street Journal
Monday, January 16, 2017
An analysis of the Federal Reserve's "dot plot" indicates Chair Janet Yellen has projected three interest-rate increases this year. The Fed has led the way as central banks back off easy-money policy.
Barron's
January 16, 2017
With the bond bull market seemingly ending after 35 years, geopolitical risks growing more pronounced, and the market richly valued, U.S. stocks could have a tough time generating more than mid-single-digit returns this year.

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