Market-based measures of inflation expectations have surged since the beginning of the year. The 10-year US TIPS breakeven inflation rate nears 3%. The 5y/5y forward rate, which measures investors’ inflation expectations…
According to BCA Research’s US Political Strategy service there is no clear case that the dollar suffers from US sanctions. Foreigners hold 26% of outstanding treasuries. Of this 26%, defense allies hold about 36%.…
On Tuesday, shipping giant Maersk upgraded its 2022 EBITDA forecast by $6 billion to roughly $30 billion from its February estimate. The company accounts for a fifth of container trade and is therefore often seen as a bellwether…
Listen to a short summary of this report. Executive Summary Small Caps Are Looking Attractive Relative To Their Large Cap Peers Adverse supply shocks have pushed down global growth this year…
BCA Research’s Global Fixed Income Strategy service recommends a neutral stance on overall global bond portfolio duration. The sharp rise in global government bond yields seen so far in 2022 has been driven by both…
The FAO food price index jumped by a record 13% m/m in March to a new all-time high for the series which dates back to 1990. Prices across all five commodity groups – cereals, vegetable oils, dairy, meat, and sugar –…
The Swedish PMI’s new orders-to-inventories ratio is sending a warning about the outlook for the global manufacturing cycle. The indicator has collapsed to levels that historically coincided with a global manufacturing PMI…
Final PMIs indicate that service sector activity expanded at a robust pace across most developed markets last month. In the Euro Area, the services PMI was revised up to 55.6 from the flash estimate of 54.8. This is slightly…