US February housing data was relatively strong, with housing starts rising 11.2% m/m after falling 9.8% in January. While they fell less than expected, building permits still declined at a faster pace than in January. The March NAHB…

 The March ZEW index for Germany and the eurozone beat estimates, with the expectations component rising to 51.6 from 26.0 in February. The current situation assessment only marginally improved yet remains deeply negative at -87.6.…

 February Canadian headline inflation was stronger than expected, rising to 2.6% y/y from 1.9% in January. The Bank of Canada’s core measures were also slightly hotter than expected, both rising to 2.9% from 2.7% a month prior, near…

 Our US Equity strategists assessed what companies are saying about tariffs, the US dollar, and the US consumer during their latest earnings calls. Q4 earnings were strong, with earnings and sales growth exceeding expectations.…

 February US retail sales were mixed, with the headline number missing expectations at only 0.2% m/m. January’s reading was revised down to -1.2%. Core measures (excluding gas & autos) were roughly in line with estimates, but the…

 The preliminary March University of Michigan Consumer Sentiment Index missed estimates, falling to 57.9 from 64.7. The decrease came from both the assessment of current conditions and expectations, with the latter falling almost 10…

 Gold is testing the $3,000/oz level. The yellow metal had a great run, outperforming every DM currency for the past few months. Despite rising real yields since the beginning of the year, gold prices are up nearly 15%.The…

 Our Chart Of The Week comes from Arthur Budaghyan, Chief Emerging Markets/China strategist. Arthur highlights a key risk for the global economy, and its implication for the US dollar. By and large, the US economy has been…

 Despite our Global Investment strategists’ bearish stance, their latest report reviews scenarios that could be bullish for equities. Our colleagues remain bearish on equities, expecting a US recession this year. However, several…