Trade Deficit

Key Events In The Coming Week

The key economic releases this week are the consumer confidence report on Tuesday, the third estimate of Q4 GDP on Thursday, and the PCE report as well as Personal Income & Spending data on Friday. In addition, there are several scheduled speaking engagements by Fed officials this week.

Deutsche: The Fed Gave Trump Just Enough Rope To Hang Himself With

"The future is bimodal with volatility to be found between politics vs. policy... Either political bottlenecks clear and the stimulus gets approved and goes full force leading to higher growth potential with structural steepening of the curve, or political tensions effectively sabotage either its arrival or content (or both), and the curve initially bear flattens or even twists with rate shorts capitulation accelerating the rally of the back end."

Row Breaks Out At G-20 Over Future Of Global Trade

A row appears to have broken out during today's G-20 meeting in Baden Baden, Germany - the first for the Trump administration - where the dominant topic is trade, and specifically how the "globalization vs protectionism" debate will look in a world where Donald Trump is president of the world's biggest economy.

Dollar Tumbles To Session Lows On Mnuchin Devaluation, Trade Deficit Warning

In a second salvo against the strong dollar on the same day, Bloomberg reports that during his first appearance at next week's G-20 meeting in Baden-Baden, Germany, Treasury Secretary Steven Mnuchin plans to drive home the message that the U.S. won’t tolerate countries that engage in currency devaluation to gain an edge in trade.

Stocks Mixed As Treasuries Suffer Longest Losing Streak Since 2012, Dollar Pops Ahead Of ADP

Asian markets dropped following disappointing China trade and Japan GDP data, while European stocks rebounded for the first time in five sessions led by miners and banks. US futures were little changed with a strong dollar pressuring oil below $53; sterling slid for the eighth day out of nine before the chancellor of the exchequer delivers his spring budget. Treasuries are headed for their longest losing streak since 2012 ahead of a 10Y U.S. debt auction, and today's ADP private payrolls report.

China Imports Spike As Lunar New Year Skew Creates Biggest Trade Deficit In 3 Years

When the headline prints hit tonight on China's trade data, offshore Yuan dipped and ripped as China faced its first trade deficit in 3 years (-$60bn vs +172.5bn exp) with imports exploding 44.7% YoY (and exports missing expectations dramatically). But it appears the economists forgot about this year's lunar new year holiday falling in January (vs Feb last year) and skewing all the data.

This Won't End Well; Never Has

Real economic activity has tumbled back to its weakest level since the election as surveys' hope soars near record highs.

Trump Won't Be Happy: US Records Biggest Trade Deficit In 5 Years

In a report that will be closely scrutinized by the trade-sensitive Trump administration, today the Department of Commerce announced that the January trade deficit surged in January 2017, jumping from $44.3 billion in December (revised) to $48.5 billion in January, as imports increased more than exports.This was the biggest trade deficit going back to early 2012.

Ukraine Has Lost Billions On The Trade Agreement With The EU In Year One

The Deep and Comprehensive Free Trade Agreement (DCFTA) between Ukraine and the European Union, which came into force on 1 January 2016, was aimed at helping the East European economy to recover; however, the results after the first year fell far short of Ukraine’s expectations.

Key Events In The Coming Week: All Eyes On Payrolls

The key economic release this week is the employment report on Friday, which as Janet Yellen noted in her speech on Friday, is the only economic event (together perhaps with the CPI report on April 15), that could potentially derail a now practically guaranteed rate hike.