US retail sales remained unchanged in April, a downside surprise from expectations of 0.4% m/m growth. Notably, the retail sales control group (an input to GDP) declined by 0.3% m/m despite expectations of mild growth and all of…
US headline CPI inflation decelerated to a softer-than-expected 0.3% m/m (3.4% y/y) in April, from 0.4% m/m (3.5% y/y). Core CPI eased from 0.4% m/m (3.5% y/y) to 0.3% m/m (3.4% y/y). Declines in new (-0.4% m/m) and used…
Our updated views on Treasury yields and Fed policy following this morning’s CPI report.
A reality check on credit data and announced property sector support measures indicates that the recent surge in Chinese share prices is unjustified based on the country's economic fundamentals.
According to BCA Research’s Geopolitical Strategy service, Indian Prime Minister Modi is on track to be reelected for his third term, with the latest polls in April averaging 385 seats for the National Democratic Alliance,…
Investor and business sentiment continues to improve in the Eurozone. The ZEW Expectations series for the Eurozone (+3.1 to 47 in May) and Germany (+4.2 to 47.1, above expectations) strengthened to 27-month highs. Moreover, the…
Despite historically high interest rates and the fact that variable-rate mortgage issuances dominate the mortgage market landscape, Australian home prices continue to climb at a close to double-digit annual rate. The Core Logic…
On the surface, the Tuesday release of the NFIB Small Business Survey indicated resilience among small businesses. The headline index appreciated to 89.7 from 88.5, upending expectations of a moderation to 88.2. However,…
