Economic Growth
The S&P 500 notched a fresh record high on Tuesday for the third session in a row, bringing its year-to-date gains to 2.0%. Yet as we highlighted in a recent Insight, the lack of a broad-based rally across all S&P 500 sectors raises some concerns…
As expected, the Bank of Japan maintained its ultra-easy monetary policy stance at its meeting on Tuesday, making no changes in interest rates or yield curve control. The monetary policy statement highlighted that elevated uncertainty around the economic…
The US Conference Board’s Leading Economic Indicator (LEI) sent a mixed signal on Monday. On the one hand, the LEI posted its 22nd consecutive month-over-month decline in December – a negative sign for the economic outlook. On the other hand, the…
The ECB will begin cutting rates in June, what does this start date imply for the yield curve and European cyclicals?
The Central Bank of Brazil (BCB) has cut the Selic rate by 50 basis points in each of the past four meetings and has alluded to maintaining this size of cuts for the coming meetings. Governor Roberto Campos Neto stated last month that he aims to bring…
After having traded sideways for the past month, US equities ended the week on a high note with the S&P 500 closing at fresh record high on Friday. Last year’s winners are once again driving the rally. Information Technology, Communication Services, and…
Inflation cooled for the second consecutive month in Japan with annual headline CPI inflation falling from 2.8% y/y to 2.6% y/y in December. Underlying inflation gauges also cooled, with the December prints of core and “core core” (excluding fresh food and…
An update to our outlooks for the Fed’s interest rate and balance sheet policies following this week’s remarks from Fed Governor Waller.
The Fed’s latest Beige Book delivered a lukewarm message on the US economy. Growth, employment, and prices were all relatively stable since the previous release in late-November. Eight districts reported little or no change in activity, three districts…
Recent data suggest that the US housing market is resilient. In particular, a strong rebound in homebuilder sentiment is sending a positive signal. The NAHB Housing Market Index jumped from 37 to 44 in January – handily beating expectations of 39 on the back…