Well that was an exciting earnings season, wasn?t it? Banks did reasonably well. Property companies didn?t do too badly either. And now it?s over until the next one in three months? time.
But it?s not over on the economic front by a long chalk. The much vaunted US tax reform plans appear to be floundering. The repeal of Obamacare has fallen by the wayside, and now it looks as though the plan to reform US taxes could go the same…
Well that was an exciting earnings season, wasn’t it? Banks did reasonably well. Property companies didn’t do too badly either. And now it’s over until the next one in three months’ time.
But it’s not over on the economic front by a long chalk. The much vaunted US tax reform plans appear to be floundering. The repeal of Obamacare has fallen by the wayside, and now it looks as though the plan to reform US taxes could go the same way.
Staying in the US, the next reading of the inflation numbers is likely to provide some clues into the likelihood of a rate rise next month. Annual inflation in the US came in at 2.2% last time. The experts reckon it could be a tad lower this time. There are some US retail sales growth figures to look out for too.
China has some closely-watched retail sales numbers also. In September, retail sales grew 10.3%, with building products and furniture fuelling the rise. The growth in retail sales in October is expected to be just as robust.
China will also report outstanding loan growth, which could be closely watched for signs that the indebted country is getting more indebted. In September, total outstanding social financing rose 13.1% to US$25.7 trillion.
The UK will report inflation numbers for October. In September, the inflation rate rose by 3%, following a 2.9% gain in the previous month. The threat of rising consumer prices prompted the Bank of England to raise interest rates for the first time in a decade. It could be the first of many steps towards tighter monetary policy, unless inflation can be brought under control.
Japan will announce its latest growth figures for the third quarter. Between April and June, the Japanese economy grew at an annualised rate of 2.5%, which was weaker than expected. However, it was more than twice the growth rate in the previous quarter.
And finally, the re-introduction of the stock market lunch break in Singapore will start on Monday. Six years ago, the 90-minute lunch break was abolished. But on 13 November, the stock market will stop trading between noon and 1pm.
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