経済

Our US Political strategists published a Special Report on the trade and fiscal policies likely to be implemented on Day One as the Trump administration takes over Washington. Trump is likely to implement significant tariffs early in his term,…

Chinese activity was decent in December, with GDP growth topping the 5% target for 2024. Industrial production growth ticked up to 6.2% y/y from 5.4% in November. Retail sales also picked up, increasing to 3.7% from 3.0% a month prior. New and used home…

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…

Our Emerging Markets strategists just published a report on Singapore stocks after a significant rally over the past year. Singapore’s manufacturing sector faces headwinds from contracting global new orders, which signals that a recovery in exports is…

The January Philly Fed Manufacturing index blew past estimates, soaring to 44.3 vs. a revised 10.9 points contraction in December. Most subcomponents rose for both the current and expected categories. Measures of prices paid and received also ticked…

December US retail sales missed estimates, with the headline number printing at 0.4% m/m, a decline from an upwardly revised 0.8% in November. On the positive side, the control group beat estimates at 0.7%. Netting it all out, the report was uninspiring,…

The December US CPI came in better than expected. While headline CPI met estimates of 0.4% m/m (2.9% y/y), core surprised to the downside at 0.2% m/m, decelerating to 3.2% y/y from 3.3%. Moderation in core annual inflation was driven by both goods, which are…

Our Commodities & Energy strategists published a special report outlining three themes they see in the space for 2025. The themes are the following:  Sluggish global demand and weak industrial activity will likely weigh on cyclical commodities,…

Two main market events defined 2024, highlighting how assets will react to economic data on the tactical horizon. The August 2024 selloff marked a positive shift in the stock-bond yield correlation, as higher odds of a “hard landing” were priced in, after…

UK inflation surprised to the downside in December. Headline inflation retreated below estimates to 2.5% y/y from an eight-month high of 2.6% in November. Core inflation also decreased below estimates, printing 3.2% vs. 3.5% in November. Services inflation,…