The Swiss KOF Barometer is a composite leading indicator of the Swiss economy. It surprised to the upside in September coming in at 105.5 against expectations of 101.0. The August reading was also significantly revised higher,…
The European Commission voted to impose tariffs of up to 45% on imports of Chinese electric vehicles (EVs). The announcement follows previous tariffs imposed on Chinese EV imports back in June. This new round of economic…
Comments from Bank of England Governor Andrew Bailey on Thursday, hinting at “a more aggressive” pace of rate cuts, marked a shift in rhetoric from previous meetings which signaled a “gradual” pace. The…
The JPM Global manufacturing PMI declined at an accelerating pace in September (49.6 to 48.8). Moreover, international trade flows deteriorated notably with the new export orders component falling from 48.4 to 47.5. A sector…
Preliminary estimates suggest that Eurozone headline and core CPI inflation decelerated from 2.2% to 1.8% y/y and from 2.8% to 2.7%, respectively, in September. The inflation data from individual Euro Area countries earlier last…
The market got excited by the 50 bps Fed cut and China stimulus. But these are a recognition that economies are slowing significantly. Stocks often rally after the first Fed cut, before falling sharply. Investors should stay…
Our expectation that a looming US recession will morph into a global recession remains intact. US monetary easing will only take effect with a lag and current deteriorating economic conditions are the product of past…
France’s and Spain’s preliminary September CPI readings declined on a month-on-month basis, clocking in at 1.5% and 1.7% y/y respectively, and undershooting consensus expectations. Germany’s and Italy’s…
According to BCA Research’s European Investment Strategy service, the surprise fiscal announcement from China’s Politburo is a very different animal from previous stimulus attempts. Although the details are still…
In a widely expected move, the Swiss National Bank (SNB) cut its policy rate for a third consecutive meeting on Thursday, from 1.25% to 1.00%. The move marked President Thomas Jordan’s final policy decision and his incoming…