European banks have accumulated about $1.2 trillion in bad and non-performing loans (NPLs) that have continued weighing down heavily on their balance sheets. Italian banks are sitting on the biggest pile of bad debt: €224.2B ($255.9B), with NPLs and advances making up nearly a quarter of all loans



U.S. Durable Goods

Durable goods orders slumped in October, a sign that investment is likely cooling despite above- trend growth in consumer demand and indications that the economy is hitting capacity constraints

One of the big questions facing policy makers is whether economic growth will remain above-trend as the boost to demand from tax cuts fades and interest rates continue to rise

Japan National Inflation

Japan’s core inflation remained stalled at 1.0% in October. As we have argued, there’s little reason to expect it to pick up much from here — especially with oil prices now in retreat

With inflation stuck halfway to target, we think the Bank of Japan will have to keep up its stimulus, while keeping a wary eye on the financial imbalances it’s generating

Eurozone Markit PMI Manufacturing

The euro-area economy stumbled again this month, with a key indicator falling to the lowest in four years, denting expectations for an economic pickup after a summer slowdown

The figures will be another disappointment for European Central Bank policy makers, who are counting on a rebound this quarter as they prepare to start unwinding stimulus. They’ve acknowledged “fragilities’’ in the economy, but are holding to the line that the broad-based expansion remains intact

soruce: Bloomberg

Important News

  • OECD released its latest economic forecasts, warning of the effects the US-China trade war could have on global growth. It expects global growth to fall from 3.7% in 2018 to 3.5% in 2019 and 2020
  • Tesla is to cut the price of its cars in China so as to absorb the impact of tariffs from the US-China trade war. The carmaker said on Thursday that it will cut prices of its Model X and Model S cars in China by 12% to 26%

source: Bloomberg


Indicies and Equity Sectors

The information provided has been compiled with the utmost care. WMM does not provide any guarantee (including resposability to third parties) regarding the accuracy, updating, reliability and completeness of the published contents. Furthermore, the published content does not constitute a solicitation or an offer to use the services of WMM, nor does it constitute any form of advice