Consumer
US Retail Sales Stall In April, Revised Downwards In March…
NFIB Survey Points To Softening Demand…
Why Aren't High Rates Cooling Australia's Housing Market…
China's Credit Growth Disappoints…
Has The Excess Savings Tailwind To Consumption Already Faded…
We marked the first X on our Equity Downgrade Checklist and the latest JOLTS, Employment Situation and SLOOS releases brought us closer to ticking some others. We remain tactically neutral on equities but expect that we will underweight them as excess savings are further depleted, leading labor market indicators continue to soften and consumer credit performance continues to fray.
The BoE Signals Possible Summer Cut…
Mexico’s election and the US election pose short-term and potentially medium-term risks to Mexican financial assets. But unless the ruling party wins a double supermajority, we remain structurally overweight Mexico relative to global stocks excluding the United States.
Tighter Lending Standards, Weaker Loan Demand Across Most Categories In Q1 2024…
European Retail Sales Surprise To The Upside…