Flash Dance
Following a week in which the risks to the global economic outlook suddenly skewed to the downside, the pendulum has swung back again over the past few days. Confidence in a soft landing for the world economy has instead now re-surfaced partly thanks to firmer-than-expected global economic data, together with some solid corporate earnings reports from the United States. In our charts this week we delve into:
· The global business cycle
· Copper prices
· Semiconductor trade
· Monetary policy transmission
· US fiscal policy support
· Euro area financial balances
The skinny
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