Mohamed A. El-Erian , Columnist

4 Developments to Watch in Global Economy

Some overlooked events last week reinforced the prospects for better growth.

December 11, 2017 at 7:00 AM UTC

Mohamed A. El-Erian is a Bloomberg Opinion columnist. A former chief executive officer of Pimco, he is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE; and chair of Gramercy Fund Management. He is author of “The Only Game in Town.”

The Fed will meet this week.
Photographer: Jay Mallin/Bloomberg

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Much of the markets' focus last week was on another round of records -- from the Dow Jones Industrial Average and S&P 500 closing Friday at new highs, to bitcoin's wild ride ahead of the formal launch of futures trading. The spotlight was also on lower implied stock volatility, with the VIX dipping below 10 and the flattening of the Treasury yield curve as two-year yields continued to move up. With all of this going on, it is little surprise that several important data points relating to economic and policy fundamentals attracted a lot less attention. Yet their implications could be quite consequential, both for 2018 and beyond.

This is particularly the case for these four factors: