|
I am a millennial, and am used to hearing all sorts of grumbles from my fellow cohort of 30-somethings about how hard life is. But it turns out those complaints are overstated, in rich countries at least. Many millennials are out-earning their parents. Growing numbers occupy positions of power. Home-ownership is rising fast. As my colleague writes:
don’t feel sorry for us.
On a more sombre note, on October 10th the Houthis, an Iran-backed Shia militia, struck Riyadh’s airport with missiles. A day later the Yemeni rebels carried out a fresh attack on Terminal 4, causing a fire. Saudi Arabia looks
increasingly under siege.
What to expect in the week ahead:
▸ The IMF and World Bank start their week-long annual meetings, this year in Bangkok, on the state of the global economy and geopolitics. The World Economic Outlook, published by the IMF, will come out on Tuesday. Last month,
the fund
said the global economy was set to grow by about 3% this year, despite the energy shock caused by the Iran war.
▸ Citigroup, Goldman Sachs, JPMorgan Chase and Wells Fargo kick off the quarterly earnings season for America’s big banks on Tuesday. Bank of America and Morgan Stanley follow on Wednesday. The banks’ profits
soared in the second quarter,
but analysts expect a more uneven picture in the third.
▸ A bumper week for inflation data beckons. India updates its consumer-price index on Monday following the central bank’s decision to raise interest rates for the first time since February 2023. On Wednesday, America publishes CPI data for September after prices rose by an annual rate of 3.4% in August. China also reports inflation data on the same day. | 
