Eurozone money supply data reflect the impact of the ECB’s aggressive tightening campaign on the region’s economy. Data released on Monday showed the July M3 measure of broad money (the sum of M2, repurchase…
According to BCA Research’s European Investment Strategy service, the profit outlook for Eurozone earnings continues to deteriorate. The team’s earnings model for Eurozone equities continues to point to a deepening…
The profit outlook for the Eurozone continues to deteriorate. Find out what the drivers behind this deterioration are.
Germany’s IFO survey sent a downbeat message on Friday. The headline Business Climate Index fell by 1.7 points to 85.7, below expectations of 86.8 and near the 85.2 level at which it bottomed in October. A 2.4-point…
In this report, we assess the best opportunities in inflation-linked bonds in the major developed economies, based on trends in growth, inflation and the stance of monetary policies in each country. We conclude that the environment…
Yesterday we highlighted that the August update of the Philly Fed’s Nonmanufacturing Business Outlook survey sent a negative signal, with the New Orders, Sales, and Employment components all deteriorating. On Wednesday, the…
Earlier this week, EUR/JPY closed at a fresh 15-year high, bringing its year-to-date gain to 14%, before losing some ground over the subsequent two days. To the extent that the recent increase in global bond yields continues to…
European natural gas prices have recently been trending higher with the Dutch TTF gaining 66% since late July. The proximate cause of the rally is supply concerns. The risk of strikes at Australian LNG plants are a threat to the…
The flash August S&P Global PMI data released on Wednesday painted a picture of softer global growth, while also hinting that Europe is on the cusp of recession. The composite PMI for the euro area fell by 1.6 versus the…
German producer prices indicate that inflationary pressures continue to moderate. The producer price index’s 6.0% y/y drop in July is more pronounced than the anticipated 5.1% y/y decline and marks the first annual decrease…