Daily Archives: Jan 3, 2019 at 06:59 am EDT

Risk Premia Forecasts: Major Asset Classes | 3 January 2019

The expected risk premium for the Global Market Index (GMI) fell to an annualized 4.2% in December, moderately below the 4.6% estimate in the previous month. The revised projection for GMI (an unmanaged market-value-weighted portfolio that holds all the major asset classes) represents the ex ante premium over the projected “risk-free” rate for the long run.
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Macro Briefing: 3 January 2019

No sign of partial gov’t shutdown ending; new meeting set for Friday: The Hill
Apple cuts sales forecast, citing weak demand in China: Reuters
Apple’s sales warning reverberates in financial markets: Bloomberg
China’s economy is becoming a risk factor for int’l firms: CNBC
Global Mfg PMI for Dec slipped to lowest level in over 2 years: IHS Markit
US Mfg PMI: growth slowed to 15-month low in Dec: IHS Markit
Eurozone Mfg continued to slow in Dec via PMI survey data: IHS Markit
Small Business Jobs Index for US continued to fall in Dec: Paychex
Gold ticked up to highest close since June on first trading day of 2019: Kitco