Macro Pulse

Financial markets remain gripped by heightened uncertainty surrounding US trade policy, slowing US growth, and broader fears of global economic instability. In our charts this week we home in on:

·       Manufacturers’ input prices

·       Supply chain pressures and UK inflation

·       The dollar and US growth

·       Electricity prices in selected major economies

·       Living standards (and energy prices)

·       China’s exports and competitiveness

US equity markets have underperformed relative to global peers in recent weeks, as investor sentiment has deteriorated in response to weaker-than-expected growth data and growing concerns about the Trump administration’s economic policies. The administration’s renewed push for tariffs, alongside fiscal expansion and tighter immigration policies, has fuelled stagflation fears, compounding the uncertainty surrounding the Fed’s next steps. In our charts this week we focus on:

·         US equity markets and data surprises

·         US capital flows versus the dollar

·         National savings rates

·         Ageing populations and deindustrialisation

·         Wage inflation in the US and Europe

·         China’s property market

Download the free charts and commentary here: https://haverproducts.com/charts-of-the-week/

The recent financial market volatility, marked by sharp swings in global bond yields and equity market repricing, reflects growing uncertainty about the trajectory of the US economy amid a rapidly shifting policy environment. The US administration’s latest tariff measures, and their conflicting objectives, have amplified uncertainty, stifled risk appetite and ignited global growth concerns. In our charts this week we focus on:

·       Fading US growth momentum

·       Consensus inflation forecasts

·       Global bond market gyrations

·       Foreign ownership of US assets

·       Industrialisation versus de-industrialisation

·       Global competitiveness

View the charts here: https://haverproducts.com/charts-of-the-week/

The global economy remains in a delicate position, with financial markets exhibiting resilience despite key policy uncertainties, geopolitical sensitivities, and a fragile pace of economic growth across many regions. In our charts this week we focus on:

·       US growth surprises

·       US trade in goods versus services

·       Global policy uncertainty and the dollar

·       Defence spending in Europe

·       Dun and Bradstreet’s risk indicators

·       Canada’s supply side risks

Financial markets have remained relatively calm in recent days despite potentially disruptive US trade policy shifts and incoming data indicating that inflationary pressures have been lingering. Investor sentiment suggests a wait-and-see approach, with markets appearing confident that central banks can navigate inflation risks without triggering sharp economic slowdowns. In our charts this week we home in on:·       Uncertainty and markets

·       US inflation and tariffs

·       Wage pressures in the US and Europe

·       Global growth at the end of last year

·       Electricity prices in major economies

·       Japan’s economic momentum

Copy and paste this link into your browser to download the free chart pack and follow along with the podcast:  https://haverproducts.com/?sdm_process_download=1&download_id=25814

·         Global current account balances

·         The US dollar’s resilience

·         Potential growth rates in the US versus the RoW

·         The US dollar’s reserve currency status

·         Savings, investment and demographics

·         Global shipping costs and supply chain pressures

In an era where timely data is everything, Now-Casting Economics—Haver’s newest data partner—is redefining macroeconomic forecasting. In this episode, Jasper McMahon, co-founder and CEO of Now-Casting, joins us to explore how their automated models provide real-time GDP, CPI, and macroeconomic estimates for major economies worldwide. Discover how point-in-time data enhances forecasting precision and supports better decision-making in fast-moving markets. Don’t miss this insightful discussion—tune in now.

Financial markets have enjoyed a notable lift in sentiment over recent days, driven by renewed optimism about the domestic economic policies of a new US administration. Investors have certainly been cheered by early signals of a pro-growth strategy, with the energy sector taking centre stage. In our charts this week we home in on:

·         Energy and labour markets

·         Electricity prices in advanced economies

·         The UK labour market

·         Saving and unemployment

·         China’s credit impulse

·         South Korean trade

·         Global bond yields

·         Inflation expectations

·         Overseas holdings of US Treasuries

·         Japan’s breakeven inflation rate

·         Quantitative tightening

·         Service sector inflation in the US and UK

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