Aside from the 1.0% m/m jump in personal income – which beat expectations of a 0.4% m/m rise – the US January Personal Income and Outlays report was broadly in line with consensus estimates. Nominal personal spending…
Could a second wave of global inflation be underway? The latest inflation prints in the US and UK showed upside surprises, while there is evidence of increased price pressures in global manufacturing. Combined with the improvements…
The hotter-than-anticipated US PPI report for January prompted a selloff in Treasuries on Friday. The monthly and annual changes in both the headline as well as the core measures of final demand PPI came in above expectations.…
Comments on yesterday’s CPI report and yield moves.
Our Portfolio Allocation Summary for February 2024.
We present the performance review of the Global Fixed Income Strategy Model Bond Portfolio for 2023. We also discuss the outlook for 2024 performance based on our Key Views for the year. The portfolio is positioned to benefit from a…
Our Portfolio Allocation Summary for December 2023.
Inflation won’t fall fast enough for the Fed to cut rates preemptively before recession arrives. The risk/rewards balance is unfavorable for risk assets. Stay overweight bonds versus equities.