Posts filtered by tags: Ethan Harris[x]


Some of the World's Biggest Economies Are on the Brink of Recession

Markets closed out last week on an anxious note. It's not difficult to see why: the coronavirus continues to spread, and there are signs that some of the world's top economies could slide into recession as the outbreak compounds pre-existing weaknesses. From a report: Take Japan: The world's third-largest economy shrank 1.6% in the fourth quarter of 2019 as the country absorbed the effects of a sales tax hike and a powerful typhoon. It was biggest contraction compared to the previous quarter sin...
Tags: Hong Kong, Europe, Japan, Indonesia, China, Germany, Singapore, India, Tech, Bank Of America, United States, Malaysia, HARRIS, Ethan Harris

The “Trade Deal” is Hilarious

There’s no third party enforcement or oversight of whether the two sides are meeting their obligations. Basically, it’s just political cover. The market doesn’t care. Stocks wanted a resolution and this will do for now. Here’s Ethan Harris and the BofA Merrill US Economics research team: The more interesting part of the deal is China’s agreement to dramatically increase imports from the US. ...The post The “Trade Deal” is Hilarious appeared first on The Reformed Broker.
Tags: Finance, China, US, Macro/Econ, Ethan Harris, BofA Merrill US Economics

BAML’s Trade War Tracker

Ethan Harris is the global economist at Bank of America Merrill Lynch. Following the course of the trade war with China and all of the associated developments has become something of a necessity for market participants, even if they’ve concluded (as I have) that no one has an edge on what will happen next (or when) and that tensions could go on for years to come, with temporary pauses, re-escalations and setbacks al...The post BAML’s Trade War Tracker appeared first on The Reformed Broker. ...
Tags: Finance, China, Baml, Bank of America Merrill Lynch, Macro/Econ, Ethan Harris

Tech stocks tumble as China retaliates in latest salvo of the trade war

Shares of technology companies were hit hard as China retaliated against the U.S. in the latest salvo of the ongoing trade war between the two countries. The S&P 500 Index shed roughly $1.1 trillion of value while the Dow Jones Industrial Average and the Nasdaq Composite Index fell 2.38% and 3.41%, respectively. On Monday, China responded in equal measure to the U.S. raising tariffs on imports to 25% by imposing 25% duties on some $60 billion of U.S. exports to the country. On June 1, Beijing wi...
Tags: Apple, Amazon, TC, Facebook, Uber, Business, Technology, Congress, China, Tech, Economy, Netflix, Beijing, United States, Stock Market, Donald Trump

Limits to trickle-down: Trump's tax-cut "boom" fizzles

Trump's multi-trillion-dollar giveaway to the richest Americans and largest US corporations led to a rise in GDP, but it was a short-lived sugar-high: the major effect was a trillion dollars in stock buybacks that padded the bottom lines of super-rich investors who barely touch the real economy (you can only own so many super-yachts and operating costs are funneled through offshore flags-of-convenience anyway). But investment in "factories, software and new equipment" only rose modestly fo...
Tags: Post, News, US, Trump, Bank of America Merrill Lynch, University of Chicago Booth School of Business, Matt Egan, Trickle Down, Trumped-up Trickle Down, Eric Zwick, Taxscam, Ethan Harris, Trumpenomics

Apple Faces ‘Informal Boycott’ From China Consumers, Says BAML

“According to a survey conducted by our colleagues in equity research, consumers in China and India are showing less interest in upgrading to an iPhone and more interest in upgrading to Xiaomi and Samsung,” Bank of America Merrill Lynch economists Ethan Harris and Aditya Bhave wrote in a recent note. “Apple sales may also suffer from a general redirection of Chinese demand away from U.S. products.
Tags: Apple, Science, China, India, Xiaomi, Baml, Samsung '' Bank of America Merrill Lynch, Ethan Harris, Aditya Bhave