The preliminary Eurozone inflation release suggests that price pressures eased by less than anticipated in February. Headline CPI inflation slowed from 2.8% y/y to 2.6% y/y (slightly above expectations of 2.5% y/y. Similarly,…
The US ISM manufacturing PMI release for February disappointed consensus expectations. The headline index relapsed to 47.8 after climbing to a 15-month high of 49.1 in January, falling below expectations of a continued slowdown…
Amid patchy global growth, the US economy remains resilient. However, tight monetary policy will eventually trigger a recession in the US too. The stock market rally has been very narrow. Stay underweight risk assets.
In this insight, we provide an update on the Norwegian krone, with attractive trade ideas over a long-term horizon. Shorter-term, our neutral-to-positive view on the dollar keeps us on the sidelines for USD/NOK.
Despite the economy being on the verge of a recession, the South African Reserve Bank will not ease policy meaningfully. Doing so will accentuate the currency depreciation, which, in turn, will push up bond yields – an outcome the…
BCA Research’s Global Investment Strategy service’s US equity model, Stock Coach, has become more bullish on the near-term prospects for the S&P 500. The model’s short-term (1-to-3 month) equity score…
In a recent report, our US Bond strategists argued that while the year-to-date increase in yields has made Treasures more attractive, conditions are not yet in place to extend duration. Instead, they expect that there will be a…
Aside from the 1.0% m/m jump in personal income – which beat expectations of a 0.4% m/m rise – the US January Personal Income and Outlays report was broadly in line with consensus estimates. Nominal personal spending…
Earlier this year it looked like the spread between the rate of 10-year and 2-year Treasury notes was heading toward positive territory. Yet the 2s/10s spread peaked at -16 bps on January 16 and the inversion has been deepening…