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Missingflation: the battle to bring inflation back

Missingflation: the battle to bring inflation back

Falling prices may seem like good news to consumers, but they can lead to falling demand, lower investment and rising unemployment, which further reduce spending.

Daily Insights 

May 23, 2016
 

Early sterling lustre tarnished

  • GBP initially performed strongly on Monday, after depreciating on Friday, but then gave back its gains versus EUR and USD. European equities are mixed on the day; Asian equity markets outside Japan broadly rallied, with the JPY appreciation likely weighing. Otherwise weakness across the commodity complex led by energy has been the main macro move of note. We see risks that some of the 4mb/d global crude production outage coming back online could place near-term pressure on prices, but structurally see the supply side of the oil market as more vulnerable.
  • The USD was generally softer in Asian trading, with gains in Asian currencies led by the KRW. The JPY also strengthened in the wake of a bigger-than-expected trade surplus in April, and comments by US Treasury Secretary Lew at a meeting of G7 finance officials that moves in the JPY have not been volatile (Bloomberg) despite comments from Japanese officials. We see the USD strengthening relatively more against EM currencies compared to G10, with EM FX differentiation likely.
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Igniting growth with our clients

Our financial advice and access to investment capital helps transform clients' business ideas into long-term growth and innovation. Together, those ideas are the fuel that ignites progress for the global economy and society. 
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Q2 Global Outlook - Tug of War

Asset markets are caught in a tug of war. Pulling in one direction are valuations that look expensive against the backdrop of uninspiring growth. Pulling the other way is the supportive influence of monetary policy, as central banks come up with innovative ways to ease further.
Ajay Rajadhyaksha, Head of Macro Research
Watch our Q2 Global Outlook summary videoWatch our Q2 Global Outlook summary video

The C-suite's innovation dilemma

The financial services c-suite needs to embrace technology innovation, and learn its language if they want to succeed, according to Harvard Business School professor and New York Times’ bestselling author Clayton Christensen.

Professor Christensen explains why the state of disruption in financial services could force them to adapt in this interview with Arian Lewis, Barclays' Head of Open Innovation.

See video chaptersSee chapters of Professor Christensen's video on disruptive innovation
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