State Street’s Chart of the Week – Confidence corrects, round one goes to the policy makers


State Street’s Chart of the Week – Confidence corrects, round one goes to the po

Please see below the latest ‘Chart of the Week’ from State Street Global Markets.

This week Michael Metcalfe, head of Global Macro Strategy, discusses how policy makers are winning the battle for animal spirits for now. 

“The biggest economic contraction in a century is, for the moment, not dampening animal spirits unduly. The confidence of investors, consumers and businesses in the US normalised further in June. Whilst hard economic data releases are swinging around widely, sentiment measures are now less than a standard error off their historical means. Q3 will bring with it new challenges of elevated expectations, some slippage in policy support and the return of some lockdown restrictions. If one of the aims of policy makers was to prevent a downward spiral in expectations, potentially exacerbating an already terrible economic outcome, then sentiment measures suggest they are winning so far.”

If you’d like to interview Michael Metcalfe to discuss this further, please contact:

Confidence corrections

State Street Chart of the Week - 07.06.2020


Source: State Street Global Markets, Bloomberg


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