Global
Top Economic Reports
June 24, 2013

By Global Economic Team|

Fed Focus: The Countdown Clock Is Ticking for the Fed: Fed officials have been trying to convince everyone that QE is a flexible instrument and that the onset of tapering does not convey information about the date of the first fed funds rate hike.  Vincent Reinhart

US Economics: Forecast Update - The Shifting Sands of the Outlook: The US economy is showing sufficiently surprising vigor to induce us to nudge up our forecast for real GDP growth this year and next. This puts us out of sync with some of our colleagues covering other major economies, who are marking down near-term numbers, but data are data and wealth creation is a powerful force of forward momentum. Vincent Reinhart

Turkey Economics: Will It Get Better or Worse? Turkey is going through a rough patch these days. The global concerns surrounding the Fed tapering and the general weakness in EM have been the main reasons behind the worsening market conditions, but Turkey-specific events made things much worse. The rapid escalation of nationwide protests that have been going on for the past two weeks caught most investors off-guard, resulting in a significant depreciation in the currency and a meaningful rise in bond yields, while the stock market index plummeted. Tevfik Aksoy

Economics, Banks and Strategy: Negative ECB Deposit Rate: Feedback from Investors

While the policy debate at the ECB Governing Council on cutting the deposit rate into negative territory is still in full swing, with some Members voicing concerns about possible unintended consequences, we have conducted a survey among investors to find out what they would expect the impact of such a step to be.  While the policy debate at the ECB Governing Council on cutting the deposit rate into negative territory is still in full swing, with some Members voicing concerns about possible unintended consequences, we have conducted a survey among investors to find out what they would expect the impact of such a step to be. By and large, investors don't seem to share concerns voiced by ECB officials about the unintended consequences of a deposit rate cut. Elga Bartsch