If we look at the list of key macroeconomic data published in recent weeks, we can not use a better definition than “disappointing”.

The slowdown in the eurozone is evident and more pronounced than even the most pessimistic expected. Both industrial production, consumer confidence and indicators such as the trade surplus have deteriorated sharply. But there is growth. Despite the bad data, the Italian recession and the fact that the European Commission has had to revise down by more than 30% its own estimates from a month ago, Europe will likely grow in 2019. Continue reading Back To Fundamentals →

Originally published at CNBC.

Market strategists and policymakers are putting too much emphasis on a trade deal between the United States and China, and it’s quite likely that whatever is agreed will disappoint. Continue reading A US-China trade deal may not be the catalyst the market is expecting →

CAN SPAIN LEAD EUROPE TO GREATER  ECONOMIC FREEDOM?

By James M. Roberts and Daniel Lacalle, Ph.D. (Published by The Heritage Foundation)

The 2019 edition of the annual Heritage Foundation Index of Economic Freedom[1] shows moderate slippage in the rankings of some eurozone economies. This is a concern, especially as this trend coincides with the peak of the largest monetary stimulus in European Union history, the goal of which was to provide EU economies with opportunities to modernize and to implement important structural reforms aimed at delivering more robust growth, more sustainable job creation, and the generation of higher-quality job openings. Continue reading Can Spain Lead Europe To Greater Economic Freedom? →