By Ana Monteiro (Bloomberg) — The US merchandise-trade deficit narrowed in November to the smallest since December 2020 due to a plunge in imports. The shortfall decreased 15.6% the most.
Bloomberg writer Ana Monteiro reported yesterday that, "The US is requesting dispute-settlement consultations for a third time over Canada’s dairy quotas, saying it has found more areas of 'deep concern' and that the nation’s measures are inconsistent with its obligations under a North American trade pact."
(Bloomberg) Three of the worlds’ most influential central banks slowed their pace of interest-rate hikes this week, acknowledging easing price pressures but stressing their jobs to stamp out inflation is far from over. The Federal Reserve, European Central Bank and Bank of England raised rates by 50 basis points this week, following increases of 75 basis points. While the Fed’s decision was unanimous, some policymakers in Europe and the UK favored a more aggressive rise. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy: World The Fed, ECB and BOE headlined a marathon week of central bank meetings. Officials in Mexico, Switzerland, Taiwan, the Philippines, Norway, Denmark and Colombia also raised borrowing costs, while Russia stayed on hold. World debt as a share of gross domestic product plunged by the most in seven decades in 2021, but policymakers still face challenges because borrowing remains above pre-Covid-19
The S&P500 jumped 4.0% this week, boosting the index’s two-week rally to 8.9%. UK 10-year gilt yields sank 58 bps this week to 3.78%, with yields down 116 bps from October 12th highs.