Key events are unfolding around the globe, impacting economic and political landscapes. The following updates highlight significant developments:
- First day of public impeachment hearings centers around Ukraine: Reuters
- U.S.-China trade discussions stall over agricultural products: WSJ
- Federal Reserve’s Powell indicates that rates will remain steady if the economy continues on its current trajectory: CNBC
- New data reveals a continued slowdown in China’s economic growth: SCMP
- Germany narrowly avoids a recession in the third quarter: CNBC
- Japan’s economy shows minimal growth in the third quarter: NY Times
- Google is strategizing to enter the banking sector by introducing checking accounts: The Verge
- Core consumer inflation in the U.S. saw a slight dip to +2.3% in October:
The resurgence of the value factor in U.S. equities appears to be upon us, especially when examining year-to-date results from various exchange-traded funds. Insights from large-, mid-, and small-cap funds suggest a clear trend: value is outperforming growth.
President Trump has warned that additional tariffs will be implemented in the absence of a trade agreement with China: Bloomberg
Trump’s chief economic advisor hints at a potential tax cut for the middle class: CNBC
To assist viewers, a guide to the public impeachment hearings that began today: BBC
Will the Supreme Court abolish the DACA immigration initiative? Reuters
The influence of the U.S. economy on voting preferences appears to be diminishing: WSJ
Ukraine’s president shows willingness to engage in discussions with Russia: NY Times
Small business owner optimism remains high in October: NFIB
Preliminary assessments of U.S. economic activity for the fourth quarter indicate a potential slowdown in growth, based on the median forecast of a series of nowcasts compiled by The Capital Spectator. While it is still early in the quarter, these projections advise caution. Currently, it appears unlikely that we will see stabilization or a rebound in output.
President Trump might refrain from imposing new tariffs on automobile imports: NY Times
October saw a decline in imports on the U.S. West Coast due to the ongoing trade conflict with China: WSJ
What he might say in today’s speech at the Economic Club of New York is generating interest: Reuters
The largest trade agreement globally is set for unveiling in 2020—without U.S. involvement: CNBC
Google is amassing a widespread health database of U.S. citizens: WSJ
Investor sentiment in Germany has improved this November: Reuters
The wealthiest individuals anticipate challenges in 2020: Bloomberg
A comparison of Trump’s performance on equity market returns with previous presidents: Bloomberg
The vast array of ETF options presents unprecedented opportunities for asset allocation and management. However, the challenge lies in keeping pace with the multitude of choices—until now. The Capital Spectator is launching a new research initiative designed to help manage this wealth of information: The ETF Portfolio Strategist (ETF-PS).
President of Bolivia resigns following a disputed election: Reuters
Spain’s socialist party maintains control as the far-right gains ground: NHK
The Treasury yield curve shows signs of steepening. Is this a risk-on signal?: WSJ
The UK experiences its slowest growth rate in nearly a decade at 1% year-on-year in Q3: BBC
U.S. small business owner optimism continues to rise in 2019: Gallup
U.S. consumer sentiment sees a slight improvement in November: MW
U.S. stock market volatility (VIX Index) dropped to a three-month low on Friday:
By Christopher Varelas and Dan Stone
Review via Kirkus Review
Varelas chronicles the transformation—or, more accurately, the regression—of the financial sector, pointing out that with the advent of publicly traded banking firms, personal accountability in the sector diminished, leaving “employees looking to maximize annual compensation” without adequate risk management. The author also addresses problematic elements in the system, such as high-speed algorithms that detach prices from real-world conditions, as well as a corporate culture reducing financial-sector workers to mere cogs in an extensive delivery mechanism. One particularly compelling aspect is the author’s forensic analysis of a case involving government bankruptcy.
There are virtually limitless options for quantifying risk within portfolio analytics, driven by the creativity of researchers. Numerous metrics are available, yet any concise list of reliable indicators should certainly feature drawdown, known for its combination of relevance and simplicity. Recent research has noted that drawdown comprises several variations, emphasizing that investors should carefully consider the application of this metric when evaluating genuinely skilled portfolio management.
Michael Bloomberg is considering entering the presidential race: Politico
The U.S. will reportedly refrain from imposing new tariffs on European vehicles: Bloomberg
Reports of easing tensions in the U.S.-China trade war have buoyed the stock market: WSJ
China’s import and export figures showed a smaller decline than anticipated in October: CNBC
Treasury rates for ten-year bonds experienced their largest rise since Trump’s election: CNBC
September’s consumer credit in the U.S. rose at its slowest rate in 15 months: MW
A drop in U.S. jobless claims last week continues to indicate a robust labor market: MW
