Updated views on US Treasury yields and the dollar following today’s FOMC meeting.
In its latest report, BCA Research’s Global Investment Strategy service provides an update on its MacroQuant model. The overall equity score declined in April, finishing the month at the 29th percentile, which is enough to…
The Conference Board’s gauge of consumer confidence largely disappointed in April. 3.9- and 7.6-point decreases in the Present Situation and Expectations subcomponents, respectively, drove the overall index to a 22-month…
After briefly breaking a 16-month contraction streak, the ISM Manufacturing PMI dipped back below the 50.0 boom-bust line in April. It decreased from 50.3 to 49.2, disappointing expectations of 50.0. Notably, measures of…
The details of the JOLTS report showed a labor market that continued to cool in March. The number of US job openings decreased to 8.488 million in March, from 8.813 million in February, and below expectations of 8.680 million…
Wild hopes for US rate cuts got shattered, exactly as we predicted. But given the different incentives that the Fed and ECB now face, the relative pricing between the Fed and the ECB could widen further in the coming months. We…
Central banks are in a dilemma whether to prioritize supporting growth or bringing inflation back to target. This is unlikely to end well. Investors should be defensively positioned.
MacroQuant downgraded equities from neutral to underweight on a 1-to-3 month horizon. The model suggests increasing exposure to cash.
In its latest report, BCA Research’s Global Fixed Income Strategy service introduces the latest addition in its framework for investing in global inflation-linked bonds (ILB). To apply the Euro Inflation-Linked Golden…
Euro area inflation and GDP numbers were released on Tuesday. The preliminary harmonized core consumer price index came in at 0.7% on a month-on-month basis, a decrease from 1.1% in March. The preliminary year-on-year core CPI…