Developed Countries
Our Chart Of The Week comes from Mathieu Savary, Chief Strategist of our European Investment Strategy service. Mathieu investigates why President Trump started his global trade offensive with an attack on Canada and Mexico, the US’ two closest…
The Bank of Japan hiked rates by 25 bps as expected to 0.50%, or a 17-year high. The BoJ is currently the only G10 central bank in a hiking cycle, as the hot labor market creates sustained domestic price pressures. Additionally, the BoJ signaled a…
The Magnificent 7 have a leg up on AI investments over the rest of the market. Although the future impact of AI on productivity and profits is still debated, current tech stocks valuations reflect great optimism that AI indeed will be massively accretive to…
Our Foreign Exchange strategists recently provided an update on their US and Australian dollar views. The US dollar remains overbought and may continue rising as a momentum currency, but cyclical indicators suggest a capitulation phase. Our FX team…
Despite the choppy price action of the last few weeks, equity sentiment remains elevated. Surveys of investor sentiment remain at the top end of the bullish spectrum, and the S&P 500 is trading over 22x forward earnings, levels only seen in the…
Sentiment will stay positive for now, but downside risks are rising. Investors should proceed cautiously in stock picking and portfolio construction at this juncture, given rising economic and policy uncertainty, which threaten market sentiment, and more broadly, the current bull-market.
President Trump is about to be inaugurated. Investors often assume all his policies will hurt Europe, but the reality is more nuanced.
US December housing data was strong, with housing starts printing above estimates at 1.49m, an acceleration from an upwardly-revised 1.29m in November. Building permits also surprised positively at 1.483m, but still decreased from 1.493m a month prior. The…
Our Chart Of The Week comes from Marko Papic, Chief Strategist of our GeoMacro Strategy service. Marko has argued that the most important macro story over the past decade has been the transition from the Washington Consensus, promoting fiscal conservatism, to…