Today is the moment of truth for Trump. Today the figures on US retail sales and US consumer sentiment are published by the University of Michigan. 70% of the US economy is made up of consumers. Bank of America data shows that consumption may have collapsed in August as more and more Americans expect a recession. For Trump, this is highly dangerous. Especially as the economic situation is worsening in swing states that narrowly elected him in 2016 (job losses in manufacturing). The poor survey results for Trump explain why the US president currently seems a little more peaceful in the trade war and towards Iran. Also for Wall Street, today’s U.S. retail sales will be crucial to whether the S&P 500 can pass the important 3200 mark.
How much will the German economy collapse as a result of the corona crisis? Only yesterday the ifo Institute gave a gloomy forecast for German industry (read here). And the economy as a whole? A […]
Despite the clear facts the markets have still maintained the hope of an early agreement between the US and China – but now there is obviously silence as the Chinese media report! Strong accusations against […]
Interest rate cuts and cheap money no longer help if corporate profits collapse A big confusion – thoughts after the FOMC protocol on recession and interest rPowell at his inaugurationate cuts Yesterday Fed head Powell […]