BCA Research's US Bond Strategy service continues to recommend a neutral allocation to TIPS for now, but with a bias to turn underweight. The team calculates a forecasted range for headline CPI inflation of 0.9% to 2.9%…
Oil prices have relapsed despite the supply cuts and the geopolitical volatility stemming from the Middle East. Odds are that global oil demand is downshifting. The chart above illustrates that there is a tight relationship…
Global market sentiment has improved notably since late-October. In the equity space, DM and EM stocks have gained 8.5% and 7.8% respectively since October 26. Regarding currencies, the counter-cyclical DXY index has lost 2.2% so…
Recent data releases have painted a mixed picture of US housing market dynamics. On the one hand, housing starts and building permits unexpectedly increased on a month-on-month basis in October. After falling in 2022, housing…
Singapore is a small open economy that is highly sensitive to fluctuations in the global manufacturing activity. As such, Singapore’s non-oil domestic exports (NODX) are a bellwether for global growth. Singapore’s…
The latest house price data indicate that China's housing market remains weak. The prices of newly built homes across 70 medium and large Chinese cities declined by 0.4% m/m in October – a faster pace of decline than…
US jobless claims have been trending higher in recent weeks, confirming that labor market conditions are deteriorating. Initial claims came in slightly above consensus estimates on Thursday, increasing by 231 thousand versus…
According to BCA Research’s China Investment Strategy service, Chinese policymakers are facing the Impossible Trinity. When faced with rapid currency depreciation in August-September, the PBoC deliberately tightened…