{"id":1615,"date":"2019-11-15T19:16:07","date_gmt":"2019-11-15T18:16:07","guid":{"rendered":"https:\/\/sarasinandpartners.com\/row\/think\/market-news-15-november-2019\/"},"modified":"2020-05-23T09:19:44","modified_gmt":"2020-05-23T08:19:44","slug":"market-news-15-november-2019","status":"publish","type":"post","link":"https:\/\/sarasinandpartners.com\/row\/think\/market-news-15-november-2019\/","title":{"rendered":"Market news &#8211; 15 November 2019"},"content":{"rendered":"<h3>UK and Germany dodge technical recession...<\/h3>\n<ul>\n<li>The\u00a0UK and German economies both escaped falling into technical recession by registering modest expansion in Q3 after shrinking in Q2. In the UK, this was expected, in Germany it came as an unexpected surprise. Year-on-year growth remains mediocre in both (UK 1.0%, Germany 0.5%).<\/li>\n<li>The\u00a0November German ZEW survey indicated Q4 GDP is likely to be weak, with the Current Conditions component languishing at -24.7; more encouragingly, the forward-looking Expectations component unexpectedly jumped to -2.1 from -22.8 the previous month.<\/li>\n<li>The\u00a0US NFIB small business survey held rebounded moderately in October on signs of progress in US-China trade negotiations, although the \u201cuncertainty\u201d component remained at extremely elevated levels, and separately the Empire manufacturing survey dipped slightly in defiance of expectations for a small rise.<\/li>\n<\/ul>\n<h3>Whilst US and Chinese hard data were uninspiring<\/h3>\n<ul>\n<li>Chinese\u00a0October fixed income asset investment, industrial production and retail sales numbers all markedly undershot expectations, as did October Total Social Financing (TSF, the broadest gauge of net credit provision to the economy. However, analysts are marking their forecasts for 2019 Chinese GDP higher based on the receding threat of the December round of US tariffs being implemented.<\/li>\n<li>On\u00a0Friday, the People\u2019s Bank of China unexpectedly offered RMB200bn (net) of credit to banks via a medium-term lending facility (MLF), demonstrating their ongoing commitment to ease liquidity conditions.<\/li>\n<\/ul>\n<h3>Markets oscillated with each successive headline regarding the state of play in trade negotiations<\/h3>\n<ul>\n<li>US\u00a0equities eked out fresh highs this week with the S&amp;P 500 above 3,100; however, European and Asian markets were more mixed, particularly the Hang Seng as the protests in Hong Kong intensified.<\/li>\n<li>Government\u00a0bond yields retraced modestly lower from multi-month highs as sentiment turned more cautious, allowing havens such as Japanese yen and gold to stabilise after recent weakness.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>UK and Germany dodge technical recession... The\u00a0UK and German economies both escaped falling into technical recession by registering modest expansion in Q3 after shrinking in Q2. In the UK, this was expected, in Germany it came as an unexpected surprise. Year-on-year growth remains mediocre in both (UK 1.0%, Germany 0.5%). The\u00a0November German ZEW survey indicated...<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"coauthors":[79,80],"class_list":["post-1615","post","type-post","status-publish","format-standard","hentry","category-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Market news - 15 November 2019 - Sarasin &amp; Partners Global<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sarasinandpartners.com\/row\/think\/market-news-15-november-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market news - 15 November 2019 - Sarasin &amp; Partners Global\" \/>\n<meta property=\"og:description\" content=\"UK and Germany dodge technical recession... The\u00a0UK and German economies both escaped falling into technical recession by registering modest expansion in Q3 after shrinking in Q2. In the UK, this was expected, in Germany it came as an unexpected surprise. Year-on-year growth remains mediocre in both (UK 1.0%, Germany 0.5%). 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