Macro Highlights September 21st 2015

Economic outlook - 9/22/2015

Our Investment Research Department publishes a weekly newsletter with a round-up on the main economic developments and news flow.

Markets: Federally reserved

As we suspected, the Fed opted not to lift rates at its September meeting, preferring to wait for surer signs on the strength of the US economy in the third quarter. It will have had the time to do that by its next meeting on October 28th, at which point it could lift rates by 25bp. Thereafter, an increase of 100bp annually is possible if domestic demand remains bolstered by brisk lending trends and wage growth. (...)

Emerging economies: remerdial reforms

Mauled by dwindling commodity prices and the strong dollar, emerging-market equities have since 2011 performed disappointingly against developed-world counterparts. (...)