Fisher Investments Reviews: Weekly Market Recap 12/16/16

Global equities were largely unchanged as markets digested central bank activity. As expected, the Federal Reserve raised the benchmark rate by 25 basis points. The 10-year US Treasury bond yield continued to grind higher as the Fed signaled further rate hikes are likely in 2017. US economic data showed modest growth. November retail sales grew 0.1% m/m on slower than expected auto sales.

European data were more robust. Eurozone October industrial production grew 0.6% y/y.

In Asia, China released key November economic data. Industrial production accelerated to 6.2% y/y and retail sales grew 10.8% y/y, each ahead of estimates.

In the week ahead, the US announces durable goods orders, home sales, personal income, and the November leading economic index. The Bank of Japan makes a rate announcement. No significant releases are expected from the eurozone, the UK, or China.