According to BCA Research’s European Investment Strategy service, although the ECB faces important challenges in the coming year, its success in maintaining price stability and in preserving the euro’s integrity are…
On the surface, Friday’s nonfarm payrolls report delivered a strong positive surprise. Establishment survey results reveal that employment increased by 339 thousand in May – above both the upwardly revised 294…
In our May In Review Insight, we showed that last month, UK stocks posted the lowest z-score among all major global equity markets, underperforming their Eurozone peers. What explains this relative weakness? The chart above…
In our FX strategists’ models, the Norwegian krone is one of the cheapest currencies. On its own, valuation is usually not a sufficient catalyst to unlock value in any currency. That said, there are a few signs that the…
In this short weekly report, we review some of our favorite FX trades.
The Fed is still on track for a June pause, even after May’s strong nonfarm payroll print.
In this report, we follow up on the upgrade to our US duration stance from last week with a review of our rates views and government bond allocations outside the US. We conclude that while we now find US Treasuries to be more…
Global financial markets relapsed in May. After a relatively strong start to Q2, most of the major financial assets we track generated below average returns last month. A shift in investor expectations for the path of the Fed…
The CCP is poised to roll out a re-boot of China’s economy that will focus on its comparative advantage in the processing of base metals – particularly copper – and the export of metals-intensive products like EVs. The re-boot will…
The JOLTS survey for April shows job openings unexpectedly rising from an upwardly revised 9.7 million to 10.1 million – above expectations of a decline to 9.4 million. The job openings rate inched up to 6.1% from 5.9%…