The November elections are soon approaching for Americans, and it now looks increasingly like a two-horse race for the US presidency. Both Hillary Clinton and Donald Trump have emerged as clear contenders in the last few weeks, leaving their rivals by the wayside.
US Federal Reserve
Earlier this year, the European Central Bank (ECB) decided to cut its deposit rate to -0.4 percent and its benchmark refinancing rate to zero.
No need to tear up the script yet on the 2016 outlook, despite the weakest ever first-week start to the year for US equity markets.
The markets have been climbing a wall of worry over the last several months. Investors seem to be focusing in on the bad economic news reports and exaggerating their importance. Positive news on the outlook is either dismissed outright or quickly forgotten. Real GDP in the third quarter of 2014 rose 5 percent in the third revision reported in late December.