The Statistical Implications of Economic Globalisation Presenting - - PowerPoint PPT Presentation

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The Statistical Implications of Economic Globalisation Presenting - - PowerPoint PPT Presentation

The Statistical Implications of Economic Globalisation Presenting the effects of economic globalisation to the public: what and how? DGINS, October 09-10, 2019, Bratislava, Vladimir Vano ECB: Unprecedented Times Key Interest rates vs. Consumer


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The Statistical Implications

  • f Economic Globalisation

Presenting the effects of economic globalisation to the public: what and how?

DGINS, October 09-10, 2019, Bratislava, Vladimir Vano

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ECB: Unprecedented Times

Key Interest rates vs. Consumer Price Inflation

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11th Anniversary of Lehman Brothers

Aramco Attacks, September 14, 2019

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Oil and business cycle

Each US Recession was preceded by oil spike

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Non-economic risks

Trade war has spiked geopolitical risk up to new highs

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Monetary policy and price of risk

Support to economic growth causes subdued risk spreads

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Trade WAR: US-China…

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Trade WAR: US-China…

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Recession Probability

Highest since 2009 as per NY Fed Model

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EUropean Locomotive

Recession of German Industry

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German Locomotive

Growth Outlook for Next Year

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What recession risk: US Consumer Confidence

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US Forward-looking Indicators

PMI - Purchasing Managers Index

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Forward-looking Indicators GER

PMI

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Mortgage loans risk

The first annual growth of defaulted mortgages since 2009

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Slowdown in China

The slowest growth of Chinese industry since 2002

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Chinese Trade War

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Chinese Trade War and Wall Street

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End of Free Trade?

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War or Reelection?

Trade war is increasing risk of recession before 2020 elections

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Impeachment a trhy

Obchodná vojna zvyšuje riziko recesie pred voľbami 2020

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Loan defaults and unemployment

The credit cycle is leading the economic cycle. It takes one to 5yrs from from the moment the credit cycle turns until the labor market tilts.

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Stock Markets Performance during Recessions

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Inverse Yield Curve

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Inverse Yield Curve

Drop of Long-term Interest Rates below Short-Term Interest Rates

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Inverzná výnosová krivka

Drop of Long-term Interest Rates below Short-Term Interest Rates

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Long-term Development

Cycles in Economy and in Markets

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Dlhodobý vývoj trhov