China’s Housing Administration Chief held a press conference yesterday to unveil two property-sector stimulus plans. According to our China strategists, the details were underwhelming and led to a decline in Chinese…
Recent economic data surprises drove equities and bond yields higher, putting our US Investment Strategy team’s bearish views to the test. They recently published a piece assessing their views considering these bullish…
Canadian headline inflation rose 1.6% year-over-year in September, lower than the expected 1.8% and down from 2.0% in August. This was also its slowest pace since February 2021. The decrease was mainly driven by gasoline prices,…
The month of October ahead of a US general election tends to be a volatile month with negative outcome for equities. As such, it is prudent to remain on the sidelines until after the election.
The US election underscores three long-term trends of Generational Change, Peak Polarization, and Limited Big Government. Investors should expect more volatility around the election and should assess the results before adding more…
In response to the Chinese stimulus announced in late September, our Emerging Market strategists upgraded EM equities to no more than neutral. Indeed, while these measures have triggered a sentiment-fueled rally from depressed…
October seasonality tends to be negative for stocks in an election year. That is the only thing that has stayed our hand from shifting out of our tactical underweight on US equities, initiated – poorly – in July.
But the big macro…
The market got excited by the 50 bps Fed cut and China stimulus. But these are a recognition that economies are slowing significantly. Stocks often rally after the first Fed cut, before falling sharply. Investors should stay…
France’s and Spain’s preliminary September CPI readings declined on a month-on-month basis, clocking in at 1.5% and 1.7% y/y respectively, and undershooting consensus expectations. Germany’s and Italy’s…
Annual BEA data revisions resulted in a significant upward revision in GDP growth since Q2 2020, led by stronger consumption growth and more robust real disposable income growth than previously believed. Revisions also show…