It is too early for the RBA to begin cutting rates. Inflation remains above target, with core CPI currently standing at 3.4%, one of the highest numbers amongst major economies. The labor market is also fundamentally strong.…
Colombia: Macroeconomic Fundamentals, Public Finances, And Political Uncertainty Warrant Underweight
BCA Research’s Emerging Markets Strategy service argues that Colombia has fallen from grace in terms of its healthy macroeconomic fundamentals, business-friendly government policies, and conservative fiscal stances.…
Climbing US bond yields, alongside higher oil prices, might spoil the party for global risk assets. There are budding cracks in EM domestic bonds, and even though we like this asset class in the long run, investors exposed to it…
Flash estimates for Euro Area inflation in March surprised to the downside. Headline inflation slowed from 2.6% to 2.4% versus expectations of 2.5% and core inflation eased from 3.1% to 2.9% versus expectations of 3%. While the…
The extraordinary performance of AI companies has pushed US growth stocks to new highs. So far, the MSCI US Growth Index has returned almost 11% since the start of the year, outperforming global stocks by over 3%. No growth index…
The Dallas Fed released its trimmed mean PCE inflation rate for February on Friday. The trimmed mean PCE is a measure of underlying inflation which excludes the top 31% and the bottom 25% of the PCE basket and then uses a weighted…
Our Portfolio Allocation Summary for April 2024.
Friday’s PCE report showed a resilient US economy. Real personal consumption increased by 0.4% m/m in February, beating expectations of 0.1% m/m and remaining above its pre-pandemic trend. Both services and goods…
The Bank of Canada released its Business Outlook Survey for the first quarter of this year on Monday. While there are some early signs of stabilization, overall demand continues to be weak. The indicator for future sales growth…
We are not yet ready to downgrade equities on a tactical basis but continue to expect we will eventually do so. We present a checklist of indicators that we are watching to determine when to de-risk.