The risk-off mood that dominated markets on Thursday, Friday and the early stages of Monday’s trading amid dismal payrolls, tech earnings and manufacturing PMIs seems to have dissipated for the time being. The positive…
US economic news has stolen the spotlight in the past several days but economic developments in the rest of the world have also been uninspiring. The JPM Global Manufacturing PMI dipped into contraction territory in July,…
Our Portfolio Allocation Summary for August 2024.
According to BCA Research’s Global Asset Allocation service, while the market action of the past few weeks is pointing to a return to a negative stock-bond correlation, more prints will be needed to confirm things are…
The latest Conference Board measure of consumer confidence suggested that consumers were increasingly downbeat about current economic conditions. Notably, their fading optimism about labor market conditions drove the jobs-…
The Australian CPI release for Q2 came in broadly within expectations. Headline CPI reaccelerated to 3.8%y/y from 3.6%y/y the previous quarter. Some of the narrower measures of inflation — trimmed-mean and weighted…
We have previously highlighted that an upside surprise in China’s fiscal stimulus as well as an AI-triggered jump in US productivity could potentially prolong the expansion, and constitute two key risks to our recession…
Mounting evidence that the labor market is on its way to cracking checked two more boxes on our checklist, driving us to tactically downgrade equities to underweight while upgrading fixed income to overweight. Our tactical and…
According to BCA Research’s Commodity & Energy Strategy service, robust iron ore imports are sending a false signal about steel demand. Instead, these supplies are being used to restock inventories. By the end of…
A decisive risk-off mood dominated markets at the end of last week, amid disappointing payrolls, tech earnings and manufacturing PMIs. The Nasdaq and other tech-heavy stock markets such as Japan, Korea and Taiwan led the equity…