Macro Briefing: 16 January 2024

* Trump wins big in Iowa caucus, first GOP vote of 2024 election campaign cycle
* Houthi rebels continue to attack shipping in Red Sea
* Iran launches missile strikes on northern Iraq and Syria
* Taiwan election raises fears of greater tensions with China
* US economy on track for more stimulus if Congress OKs tax deal
* Tax cuts worth trillions of dollars are on the line in this year’s elections
* Progress on taming inflation expected to slow, predicts Atlanta Fed chief
* US producer prices fall for third straight month in December:

China efforts at battling deflation will be in focus during 2024. “I think it’s a critical year for the Chinese economy in the sense that deflation could be entering a vicious cycle,” says Robin Xing, chief China economist at Morgan Stanley.

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