Speculators have supported copper prices as demand growth slowed below the pace of supply growth. Our Commodity and Energy Strategy colleagues believe this does not bode well for the metal. The copper market faces a situation…
Flash Q3 GDP estimates for the Euro Area beat expectations, accelerating to 0.4% quarterly growth from 0.2% last quarter. The momentum was spread across major countries, except for Italy. Meanwhile, the European Commission’…
Middle-aged households have lagged youngish and older households since the pandemic and the 40-to-54 cohort is worse off than it was at the end of 2019. The fragmenting of the seemingly monolithic US consumer widens the path to a…
Developed markets Flash PMIs estimates for October were mixed, with resilient US numbers and weakness elsewhere. The eurozone composite met expectations but remains below the 50-level expansion threshold. Germany…
September numbers for East Asian trade disappointed across the board. Japanese exports dropped 1.7% year-on-year (YoY) after rising 5.5% in August, and Singapore’s non-oil domestic exports decelerated to 2.7%YoY after…
Yesterday, the ECB solidified its recent dovish tilt in response to weaker growth and decreasing inflationary pressures. It is now set to cut rates 25bps each meeting. How low will the ECB deposit rate ultimately go and what does…
China’s Housing Administration Chief held a press conference yesterday to unveil two property-sector stimulus plans. According to our China strategists, the details were underwhelming and led to a decline in Chinese…
Japanese core machinery orders decreased by 1.9% in August and dropped 3.4% year-over-year, missing expectations for modest growth. This decline reversed July’s improvement, when machinery orders grew at an 8.7% annual pace…
While recent cross-asset developments have sent a risk-on signal, with equities and bond yields both higher, the commodity complex has recently been sending a more somber message. “Dr. Copper” is a bellwether for…