Results of the November JOLTS survey indicate that the US labor market is softening. The number of job openings slowed from 8.85 million to 8.79 million – the lowest since March 2021 and slightly below expectations of 8.…
The market is excited by the idea that the Fed will cut rates early this year, even without a recession. But is that likely, with inflation still set to be around 2.8% mid-year?
According to BCA Research’s Global Fixed Income Strategy service, the timing and pace of rate cuts in 2024 will differ across countries, representing a big sea change from the highly correlated rate hiking cycles of the…
Global financial markets ended 2023 on a positive note, delivering a second consecutive month of exceptional gains in December. Fixed income once again led in terms of abnormally large returns on the back of increased…
2023 was an unexpectedly good year for global financial markets. Most of the major financial assets we track generated positive abnormal gains. Although US stocks outperformed their global counterparts, Eurozone, Japanese, and…
Economists have been consistently revising up their 2024 US GDP forecasts over the past 4 months. The consensus now anticipates US growth to clock in at 1.3% this year. According to the latest estimate from the Atlanta Fed’…
December PMIs indicate that the global manufacturing sector is not experiencing a meaningful rebound. The Global Manufacturing PMI declined from 49.3 to 49.0 in December, marking the sixteenth consecutive month of a sub-50…
In this final note for the year, we take profits and close several long-term investment positions: Overweights in Insurance and Commercial Services, and underweights in Utilities, and Retail and Commercial REITs.
