Economics & Markets

The global economy continues to grow at different speeds in Q2. In the US, the labour market is beginning to show signs of moderation while inflation continues its slow downward trickle; Germany’s weakness conditions the euro area as a whole, and China’s economy faces a modest outlook for Q3.

Between the 2nd and 5th of August, the financial markets experienced their most turbulent sessions in years, triggered by hasty fears of a US recession and an unexpected decision by the Bank of Japan that caused a spike in volatility. Since then the markets have turned a page, rendering those declines of early August no more than a scare and restating the soft-landing scenario as being the most likely.