UK unemployment drops to seven-year low
The United Kingdom’s unemployment rate has dropped to a seven-year low of 5.4%.
Macro News
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Slip into deflation raises chances of ECB QE extension
Eurozone prices fell by 0.1% in September from a year earlier, reversing a 0.1% increase the previous month.
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Manufacturing weakness adds to BoE woes
Growth in UK manufacturing output stalled for the first time in two years the latest Industrial Trends survey from the Confederation of British Industry showed.
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Saracen: Rio Tinto among winners in a ‘fragile’ growth world
Global growth, albeit slow, will benefit more economically sensitive companies over the next three to five years, while the likes of Rio Tinto and BWM will be significant winners, according to Saracen Fund Managers.
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‘All bets off’ on Fed’s next rate rise
The US Federal Reserve’s decision to hold interest rates in the 0-0.25% target range was met with muted response by investors, not surprised by the dovish tone.
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S&P lowers Japan’s sovereign rating on Abenomics concerns
S&P has lowered Japan’s sovereign credit rating from AA- to A+ on concerns about the strength of the ongoing economic recovery.
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UK wage growth picks up steam
Wage growth in the United Kingdom economy has picked up, registering a 2.9% increase in average pay, according to the Office for National Statistics.
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UK inflation slide to zero means only the experienced will prevail
The 0% UK August inflation figure is indicative of wider uncertainty that lies ahead, say industry experts, and the market is now an arena for only the most experienced of managers.
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China in focus as BoE again votes 8 to 1 to keep rates on hold
The longer term implications of slowing Chinese growth on the global economy took centre stage during the latest Bank of England monetary policy meeting, the meeting’s minutes reveal.
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IMF issues bearish update on global growth
The International Monetary Fund has issued bearish commentary on the prospects for economic growth around the world in the near term.
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Asset manager pessimism on US and EM deepens further
Return expectations from US equities among asset management companies are at a post-financial crisis low. EM equities may look cheap after last week’s correction, but asset managers have their reasons to stay sceptical.
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Fund outflows hit record on market gyrations – BAML
The past week has seen the largest outflows on record from equity funds, the latest Bank of America Merrill Lynch Flow Show report shows.