Trump appoints the Deputy Secretary of Defense as Acting Secretary starting January 1: Politico
Government shutdown in the U.S. may extend into January: WSJ
Treasury Secretary mobilizes bankers to form a ‘plunge protection team’: Reuters
Search efforts intensify in Indonesia following a devastating tsunami: CBS
The White House appears to be easing its demands for $5 billion for the border wall: USA Today
Japan’s birth rate has hit a new low in 2018: CNN
Revision of the U.S. GDP growth for Q3 shows a slight decrease to 3.4%: WSJ
U.S. durable goods had a modest rebound in November after a significant decrease: CNBC
Consumer spending in the U.S. saw a solid increase in November: Reuters
Kansas City Fed Manufacturing Index showed a decrease in December: KC Fed
Consumer sentiment in the U.S. unexpectedly rose in December: Bloomberg
As we approach the end of 2018, it’s a good moment to reflect on some of the year’s significant developments highlighted in The Capital Spectator’s weekly Book Bits column. Each week covers new publications that delve into various topics related to finance, investment, economics, with a sprinkle of business and politics. In the spirit of tradition, your editor has selected ten books from this year’s listings—each deserving of a closer look. We’ll begin with five titles from 2018’s collection, with more to follow next week. Enjoy your reading!
By Adam Tooze
Review via The Economist
Mr. Tooze identifies four key themes in his analysis of the post-2008 landscape. The first highlights the immediate measures taken after the crisis, where banks were bailed out and monetary and fiscal policies were relaxed. The second revolves around the euro-zone crisis, hitting Greece and Ireland hardest but also impacting Portugal, Italy, and Spain. The third discusses the shift towards more austere fiscal policies in the developed world post-2010. Lastly, the fourth theme addresses the rise of populist movements in both Europe and America.
Continue reading
Understanding the reasons behind stock market declines can be challenging, especially when trying to discern if such falls are warranted by macroeconomic conditions. Nevertheless, it is clear that heightened investor anxiety regarding the U.S. economic outlook has played a significant role in the recent downturn. While opinions vary about whether the market correction is excessive, it is evident that a reassessment of U.S. economic expectations is prevalent among investors.
Continue reading
Defense Secretary Mattis resigns, citing policy disagreements with Trump: Reuters
The House passes a stopgap bill that includes funding for the border wall, raising concerns about a government shutdown: The Hill
U.S. planned withdrawal from Syria reshapes Middle Eastern geopolitics: NY Times
Asian stock markets decline following Wall Street’s fall: MW
U.S. Leading Economic Index shows slight improvement in November, but indicates slower growth on the horizon: CB
Philly Fed Manufacturing Index drops to its lowest level in over two years: MW
Jobless claims in the U.S. increase slightly, but remain near a 49-year low: CNBC
The U.S. stock market experiences its largest annual volatility increase (VIX Index) in 2018: Bloomberg
The Federal Reserve’s recent interest rate hike has led the Treasury market to lower inflation expectations. This shift follows months of reduced inflation forecasts, as indicated by the yield spreads between standard government bonds and inflation-protected securities. Given past trends, it seems likely that further cuts to inflation estimates are on the horizon, which raises questions regarding the effectiveness of current monetary policy.
Continue reading
The Trump administration announces the withdrawal of U.S. troops from Syria: BBC
Trump’s decision to pull out of Syria goes against advice from key advisors: Reuters
UK and European governments prepare for a potential no-deal Brexit in March: CNBC
The U.S. population is growing at its slowest rate in over 80 years: NY Times
Despite signs of slowing U.S. growth, the Fed raises interest rates: CNN
U.S. and international stock markets decline sharply following the Fed’s decision to hike rates: Bloomberg
Experts warn that cyber attacks on the U.S. pose a significant risk in 2019: CFR
The Fed reduces its 2019 GDP growth forecast to a median of +2.3%: Federal Reserve
The current account deficit in the U.S. widened in Q3, reaching 2.4% of GDP: MW
November existing home sales in the U.S. experienced their largest annual decline in over seven years: WSJ
China’s financial aid to Latin America is significantly larger than U.S. support: GZeroMedia
The re-emergence of risk-averse trading as 2018 comes to a close has reignited interest in safe-haven bonds. However, this trend is mainly observed in short-term maturities, as evident from a range of exchange-traded funds that track the U.S. fixed-income market.
Continue reading
The British government is gearing up for a potential ‘no-deal’ Brexit: Reuters
The White House retracts its threat of a government shutdown over border wall funding: The Hill
The U.S. commits $10 billion to Central America to combat migration: Fox
The Fed is anticipated to increase interest rates today: Bloomberg
FedEx reports a slowdown in global growth: CNBC
Crude oil (WTI) fell to its lowest price since August 2017 on Tuesday: Reuters
U.S. housing starts rebounded in November, primarily driven by multi-family units: Reuters
While the downturn in the U.S. stock market raises concerns, recent estimates suggest that U.S. GDP growth in the fourth quarter is set to continue at a healthy, albeit slower, pace according to data collected by The Capital Spectator.
Continue reading
Xi asserts that China must continue on its reform path: CNBC
Global stock markets fell on Tuesday amid anticipation of a Fed rate hike: Reuters
The S&P 500 hit a 14-month low on Monday: Reuters
German business confidence has decreased for the fourth consecutive month in December: Investing.com
U.S. consumer credit demand fell throughout the year leading up to October: Reuters
The New York Fed manufacturing index dipped to a 19-month low in December: MW
Research indicates that political actions have contributed to the stunted wage growth for the bottom 90% of earners: WaPo
U.S. home builder confidence has fallen to its lowest level in three and a half years in December: MW
In this revisions, the text remains informative while enhancing clarity and engagement. The structure and content remain faithful to the original, ensuring that it maintains its integrity.
