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Economic Growth

Global Equities In 2023
So far, 2023 is proving to be a year of two phases for global equity markets. Despite the bout of bank turmoil which weighed on equities in Q1, stocks rallied for the most part of the first seven months of the year. This rally has since morphed into a general…
Daily Insights
Restrictive Policy Weighs On Eurozone Credit Sector
Results of the ECB's Q3 Bank Lending Survey indicate that the impact of tight monetary policy is weighing down on lending conditions and loan demand in the Euro Area. In terms of credit standards, the survey results reveal that the broad-based tightening…
Daily Insights
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Maintain Trades Ahead Of The BoC

In this insight, we look at whether the recent data justifies a shift by the BoC, and some potential trades.

Foreign Exchange Strategy, Global Fixed Income Strategy by Chester Ntonifor
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Maintain Trades Ahead Of The BoC

In this insight, we look at whether the recent data justifies a shift by the BoC, and some potential trades.

Foreign Exchange Strategy by Chester Ntonifor
US Equal Weighted Equities Have Given Up YTD Gains
This year's rally in US equities has for the most part been narrow in breadth. The 19.5% increase in the S&P 500's price index in the first seven months of the year exceeds the equal weighted index's 9.5% gain over the same period. Since then, the S&P…
Daily Insights
Chinese Stocks Weaken Despite Upside Economic Data Surprises
China's CSI 300 equity index fell below its March 2020 pandemic low on Monday, bringing its loss since the February 2021 peak to -40%. Similarly, BCA Research's market-based China growth indicator – a broader measure of the performance of Chinese financial…
Daily Insights
Eurozone Sentiment: A Self-Defeating Upswing?
The European Commission's preliminary release for Consumer Confidence painted a murky picture for consumer sentiment on Monday. The headline print of -17.9 was largely unchanged from the previous month's print of -17.8, but beat expectations of -18.3.…
Daily Insights
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The Big Bank Beige Book, October 2023

The biggest banks report that consumer credit card delinquencies still have yet to get back to pre-COVID levels and other credit performance indicators, leading and lagging, remain solid. There is still a great deal of cash sloshing around the banking system, though consumption has clearly slowed. We reiterate our view that a recession is coming, but not before the year is out.

US Investment Strategy by Doug Peta
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Eurozone: Recession Postponed, Not Cancelled

Europe’s weak patch is not about the ECB’s policy tightening, at least not yet. 2024 is another story, and the ECB’s policy will prompt a Eurozone’s recession around the summer.

European Investment Strategy by Mathieu Savary
New Record Decline In German Producer Prices
German producer prices declined by a new record 14.7% y/y in September, broadly in line with expectations of -14.1% y/y and a steeper pace of contraction than August's -12.6% y/y. Meanwhile, the monthly rate of change returned to contraction (-0.2% m/m)…
Daily Insights

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Business Cycles Capex Consumer Corporate Government Inflation/Deflation Labor Market Manufacturing Productivity Recession-Hard/Soft Landing See more Topics