Steen Jakobsen
The Bank of Japan has abandoned quantitative easing and the European Central Bank may taper its bond-buying programme, so what is the role of central banks in 2017, asks Saxo Bank’s chief economist Steen Jakobsen.
Squawk / 18 July 2016 at 16:43 GMT
CEO and CIO / U.S. Global Investors
United States
Is this the Airlines Liftoff Investors Have Been Waiting For?

A flurry of good news lifted airline stocks higher last week, reversing a drop in altitude that’s weighed on the industry so far in 2016. Fueled primarily by a bullish report from Deutsche Bank, American Airlines, Delta Air Lines and United Continental collectively advanced 6.5 percent last Tuesday alone. The German bank’s all-clear signal halted a six-month slide on overcapacity, Brexit uncertainty and heightened fears of global terrorism.

Leading the group was American Airlines, which announced lastTuesday that it would renew its credit card deals with both Citigroup and Barclays, a move that’s estimated to add $1.55 billion to the carrier’s pretax income over the next three years—$200 million this year, $550 million in 2017 and $800 million in 2018.


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