Follow Paul Donovan

Restructuring reviews

| Posted by: Paul Donovan | Tags: Paul Donovan

  • Asian markets have still exhibited some growth concerns with lingering after-effects from Chinese trade data. However, the distortions to this data release are such that there is little useful information to be gleaned on the state of the world economy.
  • German finance minister Schaeuble suggested that he could not justify supporting further restructuring of Greek debt. This comes as we believe that Greece has reached an inflection point for growth – but also for the necessary debt restructuring.
  • UK industrial and manufacturing production data is due (partly predating the weakening of sterling). There are a couple of Bank of England speakers in the wake of some testy exchanges from the governor over the economics of UK exit from the EU.
  • More votes in the US, not really changing the state of the race. However, the Democrat Sanders won Michigan with a campaign against free trade (alleging it cost jobs). This may raise questions about the prospects for TPP and TTIP.