Weekly Economic Perspectives: Philly Fed Current Activity Still Weak, But Expectations Strong
Last Week's Highlights
The Economy Better than expected housing data in the US. Lower energy prices push Canada into deflation. Manufacturing and service activity contracts at a slower rate in the UK and the eurozone. Japan’s nascent consumer demand recovery is nipped in the bud. The RBA expands collateral for repo to include investment grade corporate bonds.
The Market A week of solid and broad-based stock market gains. Italian bond yields decline sharply on eurozone recovery fund optimism. The dollar eases a bit. Another very good week for oil.
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