Data, policy and politics

Some unexpected resilience in the US economy and particularly in the labour market has continued to reinforce soft landing narratives over the past few days. At the broader global level, weaker-than-expected inflation data have also been reinforcing the view that most major central banks will continue to loosen monetary policy in the period ahead. In our charts this week we focus on:

·       Markets and data

·       US bond yields

·       Global growth momentum

·       The UK Budget

·       Japan’s politics

·       China’s and US politics

Finally, in our podcast this week we summarise some of the key messages and a forthcoming webinar on the global growth outlook.