Euro Area CPI inflation rose 0.1 percentage points to a fresh record high of 5.0% y/y in December – above the anticipated 4.8%. On a monthly basis, headline inflation was steady at 0.4%. Energy prices – which were up…
Highlights Global equities are poised to deliver mid-to-high single-digit returns this year, with the outlook turning bleaker in 2023 and beyond. Non-US markets are likely to outperform. We examine the four pillars that have…
Final Markit PMIs for December confirm the flash estimates’ message that economic activity moderated in December. In the US, the composite PMI eased slightly to 57 from 57.2. The Eurozone composite index fell more sharply…
We have entered a new phase of the cycle, with central banks in most developed markets turning more hawkish (the Bank of England surprisingly hiking in December, and the Fed signaling three rate hikes for 2022). How much does…
As 2021 draws to a close, we thank you for your ongoing readership and support. We wish you and your loved ones a happy holiday season and all the best for a healthy and prosperous 2022. Highlights Over the coming three months, the…
Highlights Global growth will remain above-trend in 2022, although with more divergence between regions than at any time during the pandemic (US strong, Europe steady, China slowing). Global inflation will transition from being driven…
Dear Client, Thank you for your continued readership and support this year. This is the last European Investment Strategy report for 2021. In this piece, we review ten charts covering important aspects of the European economy and…
The flurry of monetary policy decisions announced over the past 48 hours highlight that central bankers globally are responding to inflationary risks to maintain their credibility. Following Wednesday’s hawkish FOMC outcome…
The UK labor market recovery appears to be withstanding the September expiry of the government’s Job Retention Scheme. The number of payrolled employees increased by 257 thousand in November to 29.4 million. This latest…
BCA Research’s European Investment Strategy service concludes that European equities are likely to withstand higher yields in 2022. To begin with, BCA Research’s US Bond strategists anticipate a modest…