As expected, the Bank of England voted to keep its bank rate unchanged at 5.25% on Thursday – maintaining policy on hold for the fourth consecutive meeting. Two of the nine MPC members voted in favor of a 25bps rise (one…
In this Insight, we share our thoughts on yesterday’s FOMC meeting and the Fed’s likely next moves, with implications for US bond strategy.
When will the US also buckle under high rates? We expect a US recession to begin around mid-year. Stay defensive.
Following the release of the white paper yesterday, today we are sending you the inaugural issue of the MacroQuant Monthly, a report summarizing the output of our next-generation MacroQuant 2.0 model.
According to BCA Research’s Foreign Exchange Strategy service investors should remain long NOK/SEK. The Norges Bank kept policy on hold last week, but the bullish case for the NOK (albeit over the short term) remains in…
The strong H2/2023 rally in global credit markets can be attributed to lower global inflation and the associated reduction in global interest rate volatility. However, our colleagues at BCA Research’s Global Fixed Income…
China’s official NBS PMI indicates that growth conditions remain sluggish. Although the composite index ticked up from 50.3 to 50.9, it is still barely in expansionary territory. Notably, the manufacturing PMI – which…
As expected, the Fed decided to keep policy unchanged at the conclusion of the FOMC meeting on Wednesday. The changes to the Fed Statement generally indicate that the central bank is preparing to move towards easing monetary…
The US Employment Cost Index for Q4 delivered a positive signal that the disinflation process is intact. The ECI’s slowdown from 1.1% q/q to 0.9% q/q came in softer than anticipations of 1.0% q/q. This marks the slowest…