According to BCA Research’s European Investment Strategy service, German yields will fall toward 2% as market-based inflation expectations dip. For now, the deceleration in Eurozone core CPI can be attributed to the…
The US Nonfarm Payroll report indicates that labor market conditions cooled in October. The 150 thousand increase in payroll employment fell below expectations of 180 thousand and marks a slowdown from the 297 thousand increase…
The US ISM PMI delivered a disappointing signal about service sector activity in October. The headline index fell from 53.6 to 51.8 – marking a sharp slowdown in activity and falling below expectations of a much more muted…
The South African rand is the best performing major currency since the DXY peaked on October 3. Considering that the rand acts as a proxy for global sentiment towards emerging markets, its recent strength raises the question…
The FX G10 attractiveness model continues to favor the US dollar, but the tide could shift in the coming weeks. Currencies such as the NOK, CHF and even CAD have been rising in rankings in recent months. Using an aggregate of…
The October update of the Global Manufacturing PMI sent a pessimistic signal about the industrial cycle. The headline index declined from 49.2 to 48.8, indicating a faster pace of deterioration. In particular, the Output,…
As expected, the Bank of England kept its bank rate unchanged at 5.25% at Thursday's MPC meeting with six members voting in favor of the decision and the remaining three preferring a 25bps rate increase. Governor Andrew…
Our Private Market & Alternatives strategists recently upgraded their recommendation on Crisis Risk Offset (CRO) strategies within Hedge Funds from neutral to overweight. They are not making a tactical call around tail risk…
According to BCA Research’s US Bond Strategy service, while economic growth will be a much more important driver of Treasury yields going forward than supply, the Treasury department did make several announcements on…
The US ISM Manufacturing PMI delivered a disappointing update on factory activity in October. The headline index unexpectedly fell to 46.7, surprising consensus estimates it would remain unchanged at 49.0. In particular, a sharp…