Highlights The Swiss economy will benefit from the pickup in global growth. The recent weakness in the franc has been a welcome development for the Swiss National Bank, but technicals suggest a coiled spring rally in CHF is likely.…
Highlights Global manufacturing activity will soon peak due to growing costs and China’s policy tightening. This process will allow the dollar’s rebound to continue. EUR/USD’s correction will run further. This…
Highlights Extremely accommodative fiscal policy and a rapid pace of vaccination puts the US on track to close its output gap by the end of the year. The situation is different in Europe, and the euro area economy will likely continue…
Highlights Global manufacturing activity will soon peak due to growing costs and China’s policy tightening. This process will allow the dollar’s rebound to continue. EUR/USD’s correction will run further. This…
Highlights Duration & The Fed: Unlike the bond market, the Fed is being intentionally cautious about how quickly it revises its interest rate expectations higher, focusing more on hard economic data than on surveys. We expect the…
Highlights Portfolio Strategy China’s slowdown, a grinding higher US dollar, extremely overbought technicals and historically pricey valuations, all signal that the time is ripe to book profits and downgrade machinery to neutral…
Dear client, Next week, in lieu of our weekly report, I will be hosting a webcast on Thursday, March 25 at 10:00 am EDT and Friday March 26 at 9:00 am HKT. I look forward to your comments and questions during the webcast. Best regards…