Macro Briefing: 7 January 2019

Bolton, in Israel, softens Trump’s plans for a quick exit from Syria: Politico
US Navy ship sails near disputed islands in the South China Sea: Reuters
Partial gov’t shutdown is now tied for 3rd longest with no end in sight: USA Today
Fed Chairman Powell hints at possibility of rate-hike pause in 2019: WSJ
Fed’s Mester: Subdued inflation could stop rate hikes: CNBC
Survey data points to slowdown in global growth to 27-mo low in Dec: IHS Markit
US Services PMI: ‘solid’ growth in December: IHS Markit
Eurozone growth falls to slowest pace in over 4 years via PMI data: IHS Markit
Retail spending in Europe rose more than expected in November: Reuters
Eurozone inflation slips to softest annual pace in 8 months: FT
US wages rose 3.2% in Dec from year ago–fastest gain since 2009: Bloomberg
Surge in US payrolls in Dec suggests recession risk is low: MW