After Asian markets stabilized in the global selloff, futures are on the back foot again as European shares weaken and investors once again get caught on the concerns about weakening economic figures around the world. The ISM figure, which came in poor on Monday, has also fanned fears – again – of a possible recession developing, one that would come at an inopportune time for the Fed, which has only recently started raising interest rates.
Our index climbed a little higher in November, but underlying data gave little cause for cheer. Exports and rail freight volumes tumbled, investment in residential property suffered the steepest fall since Breakingviews records began in 2008, and pollution hit a 13-month high.
from Morning Bid with David Gaffen:
It’s been an interesting year, and the volatility we saw strikes some as a harbinger, with more divergence in monetary policy and the long-anticipated beginning of a Fed tightening cycle careening into the collapse of oil, setting up for an eventful 2016. For now, though, here’s a look at the top 10 stories in the markets over the past year:
British banks survived the Bank of England’s 2015 stress tests largely unscathed, but the assessment published earlier this month also underscored the vulnerability of the UK banking system to China.
The world economy may be set for another year like 2015, with modest growth in developed economies offsetting persistent weakness elsewhere but generating very little inflation and keeping interest rates low.