With many people considering 2016 to be an annus horribilis, it is safe to assume that there is a high level of uncertainty in the air as we head into the New Year. Political fragmentation appears to be the flavour of the moment, with Brexit and Trump’s election victory taking centre stage. However, despite the [...]
US The big news was the second rate hike out of the FOMC since 2006. FOMC committee members signaled that more rate hikes may be needed in 2017, which sent interest rates higher across the yield curve. A closer look at the “dot plot” showed six FOMC members look for three rate hikes next year, [...]
US The US ISM non-manufacturing posted its highest reading this year of 57.2 in November. The measure of services business activity has been up and down throughout 2016, but has found an upward trend toward the second half of the year. The details of the recent survey were more encouraging, with the employment component jumping [...]
US OPEC’s decision to cut output by 1.2m bpd to 32.5m bpd took center stage, shoring up global crude oil prices by 12% on optimism over easing oversupply. Brent and US WTI prices last traded at US$54 and US51/ barrel respectively. This breakthrough on output cut is the first for OPEC since 2008 and the [...]
