The prior week was marked by a rising tide in economic fundamentals, leading off with trade in Japan. As the Yen approaches its lowest levels in weeks, the export contraction in Japan is showing signs of ebbing, shrinking to -6.90% during September from -9.60% a month earlier. Nevertheless, inflation remains sluggish, with figures across the country remaining firmly in deflationary territory. Prices for a basket of consumer goods and services fell by -0.50% year over year, hurt by weak household spending. Turning towards Europe, German manufacturing experienced a significant gain, with the preliminary manufacturing PMI indicating activity was expanding by the fastest pace since 2014. Even amid widespread concern about the “Brexit” impact, UK GDP growth managed to beat expectations by a significant margin. The economy grew by a 2.30% annualized pace versus forecasts of 2.10% while quarterly GDP at 0.50% rose above Central Bank estimates of 0.30%. UK figures were mirrored by better than anticipated US growth numbers in the advance reading of third quarter GDP. According to the data, the US economy recorded the fastest pace in two years, rising by a 2.90% annualized pace during the third quarter thanks to a recovery in inventories and exports.