On the surface, the latest uptick in the General Business Activity Index of the Dallas Fed’s Manufacturing Survey suggests that manufacturing activity is no longer deteriorating at an accelerating pace. The indicator rose…
Tokyo’s headline CPI inflation fell below expectations in August, easing from 3.2% y/y to 2.9% y/y – slightly below anticipations of 3.0% y/y and the first dip below 3% in nearly one year. Similarly, the slowdown in…
According to BCA Research’s European Investment Strategy service, the profit outlook for Eurozone earnings continues to deteriorate. The team’s earnings model for Eurozone equities continues to point to a deepening…
Germany’s IFO survey sent a downbeat message on Friday. The headline Business Climate Index fell by 1.7 points to 85.7, below expectations of 86.8 and near the 85.2 level at which it bottomed in October. A 2.4-point…
Yesterday we highlighted that the August update of the Philly Fed’s Nonmanufacturing Business Outlook survey sent a negative signal, with the New Orders, Sales, and Employment components all deteriorating. On Wednesday, the…
The flash August S&P Global PMI data released on Wednesday painted a picture of softer global growth, while also hinting that Europe is on the cusp of recession. The composite PMI for the euro area fell by 1.6 versus the…
The latest update of the Atlanta Fed’s Home Ownership Affordability Monitor (HOAM) – which gauges a median-income households’ ability to absorb annual costs related to owning a median-priced home – is now…
To the extent that Taiwanese export orders are a bellwether for global trade dynamics, the latest update for July provides a less pessimistic signal about the manufacturing cycle. It shows the pace of decline slowed sharply from…
Mexican financial markets have been this year’s stellar outperformers, both in absolute terms and relative to their EM peers. Naturally, the question arises: how sustainable is this rally? According to our Emerging…
The gold/silver ratio (GSR) entered a well-defined tapered wedge formation with downside support near 80, and an upside breakout around the 90 level. Back in 2020, this ratio was caught up in a race towards major overhead…