Market Talk – Thursday, Dec. 10

Thomson Reuters IPSOS PCSI (Dec) increased from 42.8 to 45.2

NIESR GDP Estimate decreased from 10.3% to 1.5%

U.K. Construction Output (YoY) (Oct) increased from -10.0% to -7.5%

Construction Output (MoM) (Oct) decreased from 2.9% to 1.0%

GDP (MoM) decreased from 1.1% to 0.4%

Index of Services decreased from 14.2% to 9.7%

Industrial Production (YoY) (Oct) increased from -6.3% to -5.5%

Industrial Production (MoM) (Oct) increased from 0.5% to 1.3%

Manufacturing Production (MoM) (Oct) increased from 0.2% to 1.7%

Manufacturing Production (YoY) (Oct) increased from -7.9% to -7.1%

Monthly GDP 3M/3M Change decreased from 15.5% to 10.2%

Trade Balance (Oct) decreased from -9.35B to -12.00B

Trade Balance Non-EU (Oct) decreased from -1.65B to -4.54B

Germany:

Germany Thomson Reuters IPSOS PCSI (Dec) increased from 47.09 to 51.27

Norway:

Core CPI YTD (Nov) decreased from 3.4% to 2.9%

Core Inflation (MoM) (Nov) decreased from 0.1% to -0.4%

CPI (MoM) decreased from 0.3% to -0.7%

CPI (YoY) (Nov) decreased from 1.7% to 0.7%

PPI (YoY) (Nov) increased from -6.0% to -3.4%

France:

French Industrial Production (MoM) (Oct) remain the same at 1.6%

France Thomson Reuters IPSOS PCSI (Dec) increased from 36.24 to 39.43

Italy:

Italy Thomson Reuters IPSOS PCSI (Dec) increased from 32.83 to 37.17

Euro Zone:

ECB LTRO decreased from 174.5B to 50.4B

Deposit Facility Rate (Dec) remain the same at -0.50%

ECB Marginal Lending Facility remain the same at 0.25%

ECB Interest Rate Decision (Dec) remain the same at 0.00%

US/AMERICAS:

Airbnb ABNB made its debut on the Nasdaq this Thursday, doubling its set IPO of $68 per share. The stock closed at $144.71 this Thursday as investors bank on the hopes of the coronavirus vaccination permitting travel once again. Airbnb CEO Brian Chesky said that he is not concerned about the coronavirus affecting business after the company saw its largest drop between April and May when business declined 80%. The CEO told reporters that “losing focus” is the biggest risk to their business.  “I think that focus doesn’t just save money and make the company more efficient, it actually leads to a lot of growth,” he told reporters.

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Disclosure: None.

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