An eventful week for data points to ongoing divergences: Sectorally (mfg weakness against resilient services) and geographically (US strength against EMU weakness). A similarly eventful week for central banks opens a another divide: While the Fed goes all-in on a soft-landing with a positive supply story and sees faster easing, the ECB turns pessimistic on European supply conditions and thus remains hawkish. The Weekender will return 5 January 2024. Until then, have a happy holiday.

Speakers:

Bruce Kasman

Joseph Lupton

This podcast was recorded on 15 December 2023.

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