February 6, 2024
United States:
Early Wall Street Bank to Predict a US Recession Scraps Its Call
Deutsche Bank AG was the among the first Wall Street banks out of the gates to predict a US recession. Nearly two years later, it’s walking back its call.
The economy performed as well as could be in 2023 with inflation moving toward the Federal Reserve’s 2% target while the labor market remained resilient, economists led by Matthew Luzzetti said in a note Monday. And with easier financial conditions, there’s less of a downside risk to growth.
Europe:
ECB Rate-Cut Timing Is Only First Tricky Call in Easing Process
When to start lowering interest rates is just the first bone of contention among European Central Bank policymakers who also look set to spar over how exactly to dial back their unprecedented spate of monetary tightening.
Officials are currently hammering out whether to begin cuts in April or June — a comparatively simple decision considering they must also weigh the size of their steps, how quickly they want to proceed and where borrowing costs will end up.
Asia:
China Stocks Rebound as Beijing Intensifies Efforts to Stem Rout
Chinese equities rallied as Beijing stepped up its efforts to stem a rout with a string of policy announcements including a state fund’s vow to boost stock purchases.
The onshore benchmark CSI 300 Index climbed as much as 2.8% on Tuesday, offering a reprieve to investors who have had to grapple with wild market swings over the past two sessions. The Hang Seng China Enterprises Index of major Chinese companies listed in Hong Kong jumped more than 4%.
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