|Data for week commencing 15 July 2019|
It’s been a week dominated by central banks and US earnings but seriously the Fed is the main game in town, followed by the Trump trade war. Then it’s an OK looking earnings season. However, if earnings end up disappointing more than expected, the real world of a poorer-than-expected company profits could take centre stage.
That said, members of the US Federal Reserve have braced the market for what the Big Bank would do. This comment from New York Federal Reserve President John Williams got a lot of market and media attention, when he said the central bank needed to “act quickly” (when the economy was slowing and rates were low). “It’s better to take preventative measures than to wait for disaster to unfold,” he cautioned.