The Davy Digest 26th January| Davy
US equities recovered from a brief selloff after President Trump dropped the threat to impose 10% tariffs on European countries after announcing he reached a “framework of a future deal” on Greenland with NATO Secretary General Mark Rutte. Trump also stated that he “won’t use force” to take over Greenland. On the macro side, core PCE inflation in the US increased to 2.8% in November from October’s 2.7%. In the Eurozone, the HCOB Composite PMI came in at 51.5 – slightly below 51.9 forecast, but still in expansion territory. In the UK, inflation increased for the first time in five months to 3.4% in December, pushed higher by food costs and air fares. UK retail sales increased unexpectedly by 0.4% in December, boosted…
