Macro Briefing: 12 January 2018

Trump expected to extend sanctions relief to Iran: Reuters
German Chancellor Merkel’s party achieves breakthrough to form gov’t: Reuters
Trump’s crude comments about immigrants trigger int’l reaction: BBC
China-N. Korea trade fell sharply in 2017: CNBC
Citing tax reform, Wal-Mart boosts minimum wage to $11/hr: Bloomberg
Wal-Mart announces it’s closing dozens of its Sam’s Club stores: USA Today
US jobless claims rise to highest level since September: Dow Jones
Producer price inflation in US slips in Dec–first decline since 2016:
Brent crude briefly tops $70/bbl for first time since 2014: Reuters