This year, we once again present our 2026 outlook as a retrospective from the future – a future in which the AI boom turned to bust.Next week, please join me for a Webcast on Wednesday, December 17 at 10:30 AM EST (3:30 PM GMT, 4:30…
Indian stocks have further downside in absolute terms as profits disappoint. Their underperformance versus the EM equity benchmark, however, is late, which warrants a shift from underweight to neutral allocation.
In the absence of official government data, investors are turning to alternative sources to gauge the direction of the US economy. Our analysis of this data suggests that the economy has continued to expand at a moderate pace over…
The October Philadelphia Fed manufacturing survey was mixed, showing weak headline data but steadier underlying components. The headline index fell to -12.8 from 23.2, the lowest level since April 2025. Underlying details were not as…
The October Empire Manufacturing survey beat estimates, but weak investment and hiring intentions temper its positive signal. The index rose to 10.7 from -8.7, indicating modest activity growth. New orders ticked up, and shipments…
Trade concerns continue to weigh on Canada, reinforcing a cautious macro outlook with near term downside for bond yields and the CAD, though the currency selloff is getting stretched and could soon present an attractive entry point.…
The September ISM Manufacturing index beat expectations at 49.1, but details confirm weak momentum and tariff-driven pressures. The headline improved from 48.7 in August, its second consecutive monthly gain, but the uptick came…
August core durable goods orders beat estimates, but weak shipments and survey data reinforce our modestly defensive stance. Core orders rose 0.6% m/m against expectations of a modest decline, though they decelerated from July’s…