Archives of “November 2020” month

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Germany reportedly plans to decide about possible December restrictions next week

  
  Analysis

Bloomberg with the headlines, citing a draft document

Germany
  • Plans further limits on public meetings
  • Plans to make mask-wearing in all schools mandatory
The measures above are likely to go into effect after the meeting between Merkel and state leaders today, with December restrictions only to be reviewed again next week.
In other words, they feel now is too early to decide on that as the virus situation remains at an escalated level and hasn’t shown signs of abating just yet.

Japan GDP preliminary for Q3. GDP (sa) 5.0% q/q (vs. expected 4.4%)

  
Analysis, Economy

Japan economic growth for the July, August, & September months quarter. Better than was expected.

  • first expansion in 4 quarters
  • fastest growth since 1980
  • GDP sa 5.0% q/q vs. expected 4.4%, prior -7.9%
  • GDP annualised sa 21.4% q/q vs. expected 18.9%, prior -28.1%
  • GDP nominal 5.2% q/q vs. expected 4.6%, prior -7.6%
  • GDP deflator (an inflation indication) 1.1% vs. expected 1.0%, prior 1.3%
  • Private consumption 4.7% vs. expected 5.2% q/q, prior -7.9%
  • Business spending -3.4% vs. expected -2.9%, prior -4.7%
A miss for consumption but nevertheless its best result in a year, rises for the first time in 4 quarters.
Yen not doing a real lot on the data. The USD has lost a few points against EUR, AUD and such as equity index futures have risen on Globex Sunday evening Chicago time.

Former Fed Chair Janet Yellen is under consideration to be Biden’s Treasury secretary

  
  Analysis

Reports cite unnamed ‘people familiar’.

One of those people says Yellen has withdrawn from an upcoming speaking engagement because she is in contention for the Treas. job.
Yellen works currently as a distinguished fellow in residence at the Brookings Institution. She is also been one of a number of economists who have briefed President-elect Biden on the state of the economy.
She was Federal Reserve System Chair from 2014 to 2018 (and Vice-Chair prior to that, 2010 to 2014). Trump replaced her in the position with current Chair J. Powell.
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