A drop in core capex orders points to slowing business spending and softening global growth. Businesses appear to have front-loaded shipments ahead of potential tariffs while deferring new orders amid policy uncertainty. With hiring…
European equities have surged on hopes of a low-inflation boom—but the rally has likely gone too far, too fast. With a pullback now likely, how should investors position themselves over the next 3–6 months?
The March Philadelphia Fed Manufacturing index beat expectations, but still fell from 18.1 to 12.5, significantly down from January’s lofty 44.3 reading. Most activity components slowed except for current employment and work hours.…
The South African government seems to believe that some fiscal retrenchment can stabilize the public debt-to-GDP ratio. But that’s a misconception. The country will need draconian spending cuts to achieve this.
The February NFIB Small Business Optimism index decreased more than expected to 100.7 from 102.8. The decline extends the reversal seen since the November US election as policy optimism yields to uncertainty. The signal from the…
China’s February consumer prices fell 0.7% y/y after expanding on an annual basis in January. Producer price deflation stood at -2.2% y/y, roughly unchanged from a month prior. China’s first quarter data is heavily influenced by…
Colombian financial markets have rallied on the expectation that a right-wing government will be elected in 2026. We take a contrarian bearish stance on the nation's financial markets. Colombia is suffering from two…
The ECB cut rates as expected, but rising yields and a stronger euro are tightening financial conditions just as fiscal policy shifts the macro landscape. With more rate cuts ahead and market positioning stretched, we outline the key…
Please join Jonathan LaBerge, Chief Strategist of BCA’s Special Reports Unit, for a Webcast on Thursday, March 6 at 10:30 AM EST (3:30 PM GMT, 4:30 PM CET).
US January core new orders beat expectations, rising 0.8% m/m, an acceleration from 0.2% in December. This measure, which excludes defense and aircraft from capital goods, is used as a proxy for business investment. Core shipments…