Executive Summary For the first time in a decade, it is much less attractive to buy than to rent a home. In both the UK and US, the mortgage rate is now almost double the average rental yield. To reset the equilibrium between buying…
BCA Research’s Global Fixed Income Strategy service recently shifted to a below-benchmark overall global duration stance. The path for monetary policy rates outside the US shows a similar profile as in the US, with a…
The dollar’s relentless rise since the beginning of 2021 is tightening financial conditions and adding to the headwinds facing the global economy. Back in 1985, concerns about the impact of a soaring dollar caused the US,…
On Monday, the OECD downgraded its global economic outlook. While it still projects global real GDP growth of 3% this year, it now expects global growth to decelerate more significantly next year. It revised down the 2023 global…
Preliminary PMI estimates point to a deterioration in economic activity across most developed markets in September. Flash manufacturing, services and composite PMIs for the Eurozone and UK are all in contraction territory. In…
Last week was packed with multiple significant central bank meetings. On Tuesday, Sweden’s Riksbank hiked its policy rate by a greater than expected full percentage point. Then on Wednesday, the Fed delivered its third…
On the surface, Taiwanese export orders in August appeared to send a positive signal about the global manufacturing cycle. They rebounded by 2.0% y/y following a 1.9% y/y decline in July and beat expectations of a 1.1% y/y…
The MSCI All Country World index lost 4% last week, bringing it down to its lowest level since mid-July. The weakness was broad-based with both the MSCI World Value and Growth indices at 2-month lows. However, the growth index…