December euro area inflation met expectations, with headline HICP printing at 2.4% y/y from 2.2% in November, and core steady at 2.7%, above the ECB’s target. Services inflation remains elevated at 4.0% y/y, up from 3.9% a month…
The euro broke the support level of its 2-year trading range against the USD, extending the strong dollar trend witnessed since September of last year. This trend will continue in Q1 2025. Despite global yields rallying in late…
Paradoxically, raging optimism on the US economy is making a reacceleration in growth less likely in 2025. The reaction of the bond market has made the Fed rethink its cutting campaign. Markets are also constraining Trump’s agenda.…
Mathieu and Chester will discuss the outlook for European assets, Global Fixed Income and FX.
US November housing data was mixed, but still reflected a weak picture. Housing starts were down 1.8% m/m, below expectations of a 2.6% increase. However, building permits were stronger than expected, increasing 6.1%. Units under…
Our Global Fixed Income and FX strategists published their 2025 outlook, and provide five key views for the year ahead. Duration revival: After three years of underperformance versus cash, government bonds will…
The November UK CPI, in line with estimates, hit an eight-month high, accelerating from 2.3% y/y to 2.6%. Core and services inflation were also strong at 3.5% (vs. 3.3% in October) and 5.0% (flat from October), respectively.…
Our European Investment Strategy team published their annual outlook, outlining five key themes that will shape Europe’s economy and markets in 2025. Europe will enter a mild recession in H1 2025, but growth is…
Our Emerging Markets, China, and Commodities strategy teams published their 2025 joint outlook. Our colleagues remain bullish on the US dollar for now but see rising odds of the Trump administration actively pursuing greenback…
