Weekly Economic Perspectives

Last Week’s Highlights

  • The Economy: Existing home sales jump in the US, driving inventories to record lows. The Bank of Canada strikes an unexpectedly dovish tone. Employment rebounds in the UK. The ECB leaves policy unchanged and launches strategic review. The BoJ stands pat. The labor market ended the year on a high in Australia.
  • The Market: Equities retreat after recent solid gains. Bond yields narrow sharply amid new virus disruption fears. The dollar creeps a bit higher. Oil plunges on worries that epidemic could stall economic activity.