In a Tuesday morning television interview, Fed Governor Christopher Waller signaled that the Fed will not lift rates when it meets later this month. Specifically, Waller echoed language used by Chair Powell at the Jackson Hole…
The AUD was the worst performing currency on Tuesday after the Reserve Bank of Australia kept its cash rate target unchanged at 4.1% for the third consecutive month. In particular, outgoing Governor Philip Lowe underscored that…
The final PMIs for August delivered a pessimistic update on service sector conditions in the Euro Area and China. The Eurozone services index was unexpectedly revised down from 48.3 to 47.9 – indicating a more pronounced…
The resiliency of consumers through 2023 has surprised investors. However, consumer strength will fade into yearend as factors supporting growth in income and spending are waning. i.e., job gains are slowing, wage growth is…
According to BCA Research’s Foreign Exchange Strategy service much of the new BRICS+ countries lack the fundamental basis of making a credible monetary union. A reserve currency needs the military might to control the…
Friday’s US employment report suggests that the softening of the labor market is continuing at a steady pace. Although nonfarm payroll employment in June and July was revised down by 110 thousand, the 187 thousand increase…
US bond investment takeaways from this week’s PCE and employment releases.
A global recession continues to be likely over the next 12 months. The impact of tighter monetary policy is slowly being felt. Government bonds look increasingly attractive as a safe haven.
According to BCA Research’s Commodity & Energy Strategy service, current monetary policy settings at the Fed and ECB risk pushing commodity and energy prices lower. Lower prices and higher rates will suppress capex and…
The stock market’s pre-eminent growth sector is not US technology, it is French luxury goods. On most time horizons over the past decades, French luxuries have trumped US technology on profit growth, price performance and…