Scandinavian currencies are bearing the brunt of the recent US dollar strength. The Swedish krona and Norwegian krone are the worst performing G10 currencies since the DXY’s mid-July bottom, losing 8.6% and 7.6% of their…
Taiwanese export orders sent a disappointing signal about global manufacturing conditions on Wednesday, corroborating the message from Singapore’s NODX release earlier this week. The pace of decline in export orders…
The August UK inflation report produced a large downside surprise. Headline CPI rose +0.3% month-on-month, versus expectations of a +0.7% increase. Year-over-year headline CPI inflation slowed to 6.7% from 6.8%, a sizeable miss…
According to BCA Research’s US Bond Strategy service, the 2006/07 roadmap remains a good one for bond investors. The Fed held the funds rate steady this afternoon and made no material changes to its policy statement.…
Over the past few months a schism has emerged in the industrial metals complex. On the one hand, the Bloomberg Industrial Metals Index – which is composed of futures contracts on copper, aluminum, zinc, nickel, and lead…
Coffee prices have surged in recent days and have now gained 8.5% over the past week. Two main forces are behind this rally. First, the recent pause in the US dollar strength is a tailwind for coffee prices. In particular, the…
The German auto and components sector is under stress. Year-to-date, the sector’s equity prices have declined by 3.5% relative to the broader German market, and multiple indicators suggest that further challenges lie ahead…
BCA Research’s US Bond Strategy service concludes that recent BEA data are understating corporate net interest expense by a significant amount. Given the recent climb in interest rates, it would be reasonable to expect…
After a steady rebound in the first half of the year, the US NAHB Housing Market Index’s 5-point decline to 45 in September was a disappointment to consensus estimates of a 1-point decrease. It marks the second consecutive…
Google searches for “inflation” by US users have been on a general downward trend over the past year. This is in line with developments in realized inflation as annual core CPI inflation peaked last September.…