The Sentix Investor Confidence index unexpectedly improved in October from -15.4 to -13.8. A notable improvement in Expectations (from -8.0 to -3.8) drove the overall index higher, while the Current Situation subcomponent…

  Consumer credit growth slowed in August, rising by USD 8.9 bn (to USD 5,097.6 bn outstanding) from USD 26.6 bn, disappointing expectations of a USD 12 bn monthly increase. Notably, revolving credit (which includes credit cards)…

  The NFIB Small Business Optimism index was mostly flat in September, ticking a mere 0.3 points higher to 91.5 in September, below expectations of a more meaningful improvement to 92.0. The NFIB Small Business Optimism has…

  The Swiss KOF Barometer is a composite leading indicator of the Swiss economy. It surprised to the upside in September coming in at 105.5 against expectations of 101.0. The August reading was also significantly revised higher,…

  The prospects of Fed rate cuts powered the S&P 500 Real Estate index’s rally. Real estate was the best-performing sector in Q3, outperforming the S&P 500 by nearly 12%. Can this sector pursue its lead now that…

  The S&P Global Canada Manufacturing PMI improved from 49.5 to 50.4 in September, breaking a 17-month contraction streak. It corroborated solid broad-based retail sales growth in July and August. Confidence in the outlook also…

  US financial conditions have become noticeably easier since August. The Fed has embarked on its easing cycle with a bang, sending equities higher and spreads lower, while the trade-weighted dollar gave back more than half of its…

    Our expectation that a looming US recession will morph into a global recession remains intact. US monetary easing will only take effect with a lag and current deteriorating economic conditions are the product of past…

  Preliminary estimates suggested that US durable goods orders stagnated in August after having surged 9.9% m/m in July, and beating expectations they would decline. Excluding the volatile transportation component, however, durable…