先進国
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 allies. The…
1月の速報PMI（主要先進国）は、製造業の縮小がより緩やかになったことと、サービス活動が依然として地域差を大きく示していることを示しました。さらに、米国と他の先進国とのパフォーマンス格差は縮小しました。…
Our Global Investment strategists believe the US economy is in a more precarious position than investors realize. A slowdown in growth could raise unemployment, while stronger activity may heighten inflation worries. The economic momentum seen in late 2024…
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 post-pandemic…
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 maintains…
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…
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…