The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
from Morning Bid with David Gaffen:
A slew of weak reports from Shell RDSa.L, Occidental OXY.N and ConocoPhillips COP.N have set the tone for what will probably be another session punctuated by lackluster buying interest in stocks and a predilection toward pushing fixed income yields lower even ahead of what is supposed to be a solid jobs report on Friday.
The Reserve Bank of India is widely expected to cut interest rates just once in 2016, as most analysts see retail inflation rising slightly above the central bank's target, but there is a decent chance it could cut more aggressively, as it did last year.
At this stage, it is hard to quantify how a planned referendum on Britain's membership of the European Union is impacting investor sentiment and the outlook for business investment. But there is little doubt it will influence the timing of the Bank of England's first interest rate hike in nearly a decade and how sterling trades this year.
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.
San Francisco Federal Reserve President John Williams earlier this year got so sick of answering reporters’ questions about when the U.S. central bank would raise rates that he had his son design a Tee-shirt that he could just give out.