My Investing Muse

Global Economy This is extracted from an article dated 13 Sep 2023 from Fitch: We have raised our 2023 world growth forecast by 0.1pp to 2.5% reflecting surprising resilience so far this year in the US, Japan and emerging markets (EM) excluding China. We have revised up US growth by 0.8pp to 2.0%, Japan by 0.7pp to 2.0% and EM ex. China by 0.5pp to 3.4%. This has more than offset a 0.8pp cut to China – to 4.8% – and a 0.2pp cut to the eurozone, to 0.6%. But we have cut our 2024 world growth forecast by 0.2pp to 1.9% with widespread downward revisions. We have reduced our 2024 US forecast by 0.2pp to 0.3%, the eurozone by 0.3pp to 1.1%, and China and EM ex. China by 0.2pp to 4.6% and 3.0%, respectively.  This is the outlook provided by the Organisation for Economic Co-operation and Development OECD's recent September post : Global growth is expected to remain weak . The world economy is expected to grow by 3.0% in 2023, before slowing down to 2.7% in 2024. A disproportionate ...

The Panama Canal is a 77.1 km (48 mi) man-made waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean. The canal cuts across the Isthmus of Panama and is a popular route for maritime shipping. The Panama Canal is important for a number of reasons. First, it allows ships to avoid sailing around the Cape Horn, which is a much longer and more dangerous route. Second, the canal shortens the distance between many ports around the world, which can save time and money for shipping companies. Third, the canal provides jobs and revenue for Panama, and it is a major contributor to the country's economy. The Panama Canal is also important for global trade. It is one of the busiest shipping canals in the world, and it handles a large volume of cargo each year. The canal is essential for the transportation of goods such as oil, grain, and manufactured goods. The Panama Canal is a vital part of the global transportation system. It allows ships to travel between the Atlantic ...

Public Holidays There are no public holidays for Hong Kong, Singapore & the US in the coming week. China is closed on 29 Sep 2023 (Friday) for Mid-Autumn Festival. Hong Kong will be closed on the following Monday (02 Oct 2023) for Mid-Autumn Festival. Economic Calendar (25Sep2023) Notable Highlights Fed’s Chair will speak on 28 Sep 2023. This speech could cause some volatility in the market. GDP (QoQ) will be confirmed this week as we conclude the USA’s GDP for Q2. CB consumer confidence and core durable goods orders present good reference for consumption. PCE is the Fed’s preferred reference for inflation. This will be the most-watched economic indicator for the week. A higher-than-expected Core PCE can trigger concerns as this could strengthen the need for a more hawkish interest rate stand. PMI - China’s manufacturing PMI will be released, a good barometer on the manufacturing sector for China and the demand for consumption of the rest of the world. Building Permits, New ...

Public Holidays There are no public holidays for Hong Kong, Singapore, the US & China in the coming week. Economic Calendar (18Sep2023) Notable Highlights Fed’s interest rate decision would be the highlight with some expecting a pause in the rate hike though one more rate hike is expected to take place. Philadelphia Fed Manufacturing Index will be released this week. This will shed light on the manufacturing sector’s performance and outlook. PMI - S&P Global Services PMI will be released this week. This would reflect if services are expanding or contracting. Building Permits & Home Sales . These will reveal the demand for buildings in the USA as various ones have touted the real estate crash. Jobless claims. Initial jobless claims will be announced on Thursday. This would form critical data points for the Fed to decide on the next interest rate adjustment. This is part of the data consideration for the Fed in their coming interest rate decision. Crude Oil Inventories c...