US Inflation signals still rising at ‘uncomfortable’ pace and concerns over EU debt deficits

Published on 11 March 2024

Carl Tannenbaum vice president and chief economist at Northern Trust

Carl Tannenbaum, executive vice president, and chief economist at Northern Trust, discusses the upcoming US inflation print and what signals trading desks need to look out for this week. He looks at where inflation has remained sticky and how he expects central banks to respond.  

In this episode, the chief economist also unpacks his outlook on China’s economy this year, the lessons to be learned from past crises, and how he is advising investors on their exposure to Chinese assets.

In Europe, Tannenbaum dissects how various economies in the EU 27 are performing, and points to where to look for growth opportunities and potential pockets of risks.

North America: Weekly Review and Outlook on Markets

  • US equities volumes climbed week on week but liquidity receded.
  • US investment-grade volumes fell week on week but were still high for the year. Liquidity seems to be improving since January.
  • Data: US Inflation Rate on March 12, PPI numbers, and Jobless Claims on March 14.
  • Primary equities: There are 9 IPOs expected to price this week e.g. NeOnc Technologies.

Europe: Weekly Review and Outlook on Markets

  • EU and UK equities volumes were down week on week. Liquidity has worsened since the end of January.
  • EU and UK investment-grade  volumes dropped off from highs but bid-ask spreads are the best they have been all year.
  • Data: UK’s Unemployment Rate on March 12 and UK’s GDP numbers on March 13.
  • Primary equities: 0 IPOs expected on European exchanges this week

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