Sections
| Title | Starting Page | Number of Pages |
|---|
| The Week Ahead | 1 | 1 |
| The Long View | 1 | 1 |
| Ratings Round-Up by Njundu Sanneh | 1 | 1 |
| Upgrades Predominant in US, Not in Europe. | 1 | 1 |
| Market Data | 1 | 1 |
| Moody s Capital Markets Research recent publications | 1 | 1 |
| Weekly Market Outlook Contributors: | 1 | 1 |
| Credit Markets Review and Outlook | 2 | 3 |
| Stronger dollar may deepen consumer goods price deflation | 3 | 1 |
| Emerging markets are vulnerable to a costlier dollar | 3 | 1 |
| Base metals price inflation supports thinner spreads | 3 | 2 |
| Topic of the Week By Ben Garber, Economist, Moody s Capital Markets Research, Inc. | 5 | 4 |
| Market signals diverge significantly from agency ratings | 5 | 1 |
| Top private firms show fundamental strength | 6 | 1 |
| Default risk continues to climb | 6 | 1 |
| Local currency markets dominate corporate lending | 7 | 2 |
| The Week Ahead US, Europe, Asia-Pacific | 9 | 8 |
| THE US | 9 | 1 |
| Friday, December 9 | 9 | 1 |
| University of Michigan Consumer Sentiment December Preliminary | 9 | 1 |
| Time: 10:00 am | 9 | 1 |
| Forecast: 94.5 | 9 | 1 |
| Consumer sentiment may rise to the highest level in seven-months in December, perhaps reflecting some of the same post-election optimism seen in the stock market. Prior to recent OPEC moves to tighten supply, consumers benefitted from gasoline prices... | 9 | 1 |
| Tuesday, December 13 | 9 | 1 |
| Import Price Index November | 9 | 1 |
| Time: 8:30 am | 9 | 1 |
| Forecast: -0.4% | 9 | 1 |
| The Import Price Index is projected to fall in November after two straight monthly advances. Even after expanding in seven out of eight months through October, the Import Index only managed a piddling 0.5% annual advance. Uplift in oil prices can bo... | 9 | 1 |
| Wednesday, December 14 | 9 | 1 |
| Retail Sales November | 9 | 1 |
| Time: 8:30 am | 9 | 1 |
| Forecast: 0.4% overall, 0.5% ex auto | 9 | 1 |
| Retail sales look to grow strongly for the third consecutive month in November, bolstered by steady job and income gains. Disposable personal income grew 4.1% year-over-year in October, the fastest such pace since January. That acceleration in incom... | 9 | 1 |
| Producer Price Index November | 9 | 1 |
| Time: 8:30 am | 9 | 1 |
| Forecast: 0.1% overall, 0.2% core | 9 | 1 |
| The Producer Price Index is forecast to edge higher in November after holding flat in the previous month. Although the 0.8% yearly increase in the PPI to October is the quickest in almost two years, that pace points to very modest pressure on busines... | 9 | 1 |
| Industrial Production &Capacity Utilization November | 9 | 1 |
| Time: 9:15 am | 9 | 1 |
| Forecast: -0.2% industrial production, 75.1% capacity utilization | 9 | 1 |
| Industrial production is expected to decline for the third time in four months in October, with warm weather greatly limiting utility sector output. Manufacturing sector production has been lackluster over the long-term, falling 0.2% yearly to Octobe... | 9 | 1 |
| Business Inventories October | 10 | 1 |
| Time: 10:00 am | 10 | 1 |
| Forecast: -0.1% | 10 | 1 |
| Business inventories can fall slightly in October after expanding in the two previous months. After long being a drag on overall output, businesses have a better handle on their stockpiling needs. Inventories added 0.5% to third quarter GDP growth, ... | 10 | 1 |
| FOMC Rate Decision | 10 | 1 |
| Time: 2:00 pm | 10 | 1 |
| Forecast: 0.5%-0.75% fed funds target range | 10 | 1 |
| The first and only fed funds hike of 2016 is all but certain to occur at the December 2016 FOMC meeting. The more interesting question revolves around policymaker projections for the fed funds rate in 2017. Consistent uplift in inflation and wage gr... | 10 | 1 |
| Thursday, December 15 | 10 | 1 |
| Consumer Price Index November | 10 | 1 |
| Time: 8:30 am | 10 | 1 |
| Forecast: 0.2% overall, 0.2% core | 10 | 1 |
| The Consumer Price Index is in line to increase steadily in November, keeping the annual core price trend north of 2%. Housing costs are keeping the core price growth elevated, with the cost of shelter rising 3.5% year-over-year in October. Continue... | 10 | 1 |
| NAHB Housing Market Index December | 10 | 1 |
| Time: 10:00 am | 10 | 1 |
| Forecast: 63 | 10 | 1 |
| Homebuilder confidence will potentially remain unchanged in December, still pointing firmly to expanding construction activity. The index measuring expected sales growth was particularly stout at 69 in November, well above the historical average of 5... | 10 | 1 |
| Friday, December 16 | 10 | 1 |
| Housing Starts &Building Permits November | 10 | 1 |
| Time: 8:30 am | 10 | 1 |
| Forecast: 1.23 million starts, 1.23 million permits | 10 | 1 |
| After jumping to the nine-year high in October, housing starts are likely to step backwards in November. Yet an improving permits trend will continue to guide starts higher over the long-term. Permits rose 4% year-over-year in the three months endin... | 10 | 1 |
| EUROPE | 11 | 1 |
| Thursday, December 8 | 11 | 1 |
| Euro Zone: Monetary Policy (December; 12:45 p.m. GMT) | 11 | 1 |
| Friday, December 9 | 12 | 1 |
| Germany: Foreign Trade (October; 8:00 a.m. GMT) | 12 | 1 |
| Asia-Pacific | 12 | 1 |
| Friday, December 9 | 12 | 1 |
| Philippines Industrial Production October | 12 | 1 |
| Australia Housing Finance October | 12 | 1 |
| China Consumer Price Index November | 13 | 1 |
| China Producer Price Index November | 13 | 1 |
| Malaysia Industrial Production October | 13 | 1 |
| Monday, December 12 | 13 | 1 |
| Japan Machinery Orders October | 13 | 1 |
| Japan Industry Activity Indexes October | 13 | 1 |
| India Consumer Price Index November | 13 | 1 |
| India Industrial Production October | 13 | 1 |
| Tuesday, December 13 | 14 | 1 |
| China Fixed Asset Investment November | 14 | 1 |
| China Industrial Production November | 14 | 1 |
| China Retail Sales November | 14 | 1 |
| Wednesday, December 14 | 14 | 1 |
| Japan Tankan Survey 2016Q4 | 14 | 1 |
| India Wholesale Price Index November | 14 | 1 |
| China Foreign Direct Investment November | 14 | 1 |
| China Monetary Aggregates November | 15 | 1 |
| Thursday, December 15 | 15 | 1 |
| India Foreign Trade November | 15 | 1 |
| New Zealand GDP 2016Q3 | 15 | 1 |
| Australia Employment Situation November | 15 | 1 |
| South Korea Monetary Policy December | 15 | 1 |
| Indonesia Foreign Trade November | 15 | 1 |
| Friday, December 16 | 16 | 1 |
| Singapore Foreign Trade November | 16 | 1 |
| Thailand Monetary Policy December | 16 | 1 |
| The Long View | 17 | 4 |
| Credit spreads | 17 | 1 |
| The recent high-yield bond spread of 453 bp is less than what is predicted by the spread s macroeconomic drivers and the high-yield EDF metric, but it is wider than what might be inferred from a now below-trend VIX index. The implications for liquidit... | 17 | 1 |
| Defaults | 17 | 1 |
| US CORPORATE BOND ISSUANCE | 17 | 1 |
| Through the first 49 weeks of 2016, US$-denominated corporate bond issuance showed year-over-year percent changes of a 4.8% increase for investment-grade and an -8.2% drop for high-yield. US economic outlook | 18 | 1 |
| EUROPE | 18 | 1 |
| Asia Pacific | 19 | 2 |
| Ratings Round-Up | 21 | 1 |
| Ratings Round-Up | 21 | 1 |
| Ratings Round-Up | 22 | 1 |
| Market Data | 23 | 4 |
| Moody s Capital Markets Research recent publications | 27 | 3 |
