Europe’s resilience to global liquidity deterioration isn’t a fluke—it signals a structural shift. Our latest report explains why the decline in precautionary money demand marks the end of Europe’s liquidity trap and what it means…
January PCE inflation was in line with expectations, with headline and core inflation rising 0.3% m/m, leaving the respective annual growth rates at 2.5% and 2.6%, near the Fed’s projection for 2025. Consumer spending missed…
The February Tokyo CPI print came in slightly cooler than expected. Headline inflation moderated to 2.9% y/y from 3.4%, while “core core” was steady at 1.9%. The Tokyo CPI gives an advance reading on national price pressures,…
Our Chart Of The Week comes from Juan Correa, from our Global Asset Allocation (GAA) strategy service. Juan highlights weakening US growth observed in the data lately. We have seen a few growth slowdown episodes since 2022…
Our Bank Credit Analyst strategists published their latest monthly report, and Section II aims to assess whether AI is leading to a productivity increase. Our colleagues remain unconvinced that Generative AI is a true…
The tariffs on Canada and Mexico will come into effect as scheduled while the tariffs on China will be doubled. In the Middle East, Iranian response to any attack will threaten Middle Eastern oil supply. Meanwhile, Chinese fiscal…
Core PCE inflation was tame this morning, but with large tariffs looming we anticipate loftier inflation readings in the months ahead.
US January core new orders beat expectations, rising 0.8% m/m, an acceleration from 0.2% in December. This measure, which excludes defense and aircraft from capital goods, is used as a proxy for business investment. Core shipments…
Weekly initial claims ticked up to 242k, near 2024 highs. The data is under the spotlight as the Trump administration implements a reduction of the federal workforce through the DOGE. Initial claims are not alarming yet; they…
The House of Representatives passed a Budget Resolution bill that adds $2.8tn to the deficit by 2034. Our Geopolitical strategists highlighted during our BCA Live & Unfiltered meeting that the Senate is likely to modify it by…