In this note, we preview the Q1-2024 earnings season, give our take on expectations and share what we will be watching.
According to BCA Research’s US Equity Strategy service while Telecoms are not attractive on a strategic investment horizon, as a low-beta defensive sector they offer excellent downside protection for a portfolio. The…
Chinese economic data releases painted a mixed picture of domestic conditions on Tuesday. Chinese real GDP growth accelerated from 5.2% y/y to 5.3% y/y in Q1 2024, beating expectations of 4.8% and suggesting that economic…
The preliminary reading of the University of Michigan gauge of consumer sentiment slid from 79.4 to 77.9 in April from 79.4, below expectations. Although both current conditions and expectations disappointed, the deterioration in…
Advanced estimates for retail sales in the US grew by 0.7% m/m in March, down from an upwardly revised 0.9% m/m in February, but meaningfully outperforming expectations of 0.3% m/m. Retail sales ex autos also surprised to the…
EUR/USD collapsed in the wake of last week’s hotter-than-expected US CPI report. Is this pessimism warranted and will the euro’s trading range that has prevailed since 2023 breakdown?
We look beneath headline data to assess the state of the labor market in cyclical goods-producing industries that have previously led overall nonfarm payrolls and in the services segments that have recently been leading the charge.…
The NFIB’s small business optimism index decreased by 0.9 points to 88.5 in March, missing expectations of 89.9, and reaching its lowest level since 2012. A few things stood out from the report: Labor market…
Fears of a hard landing are abating as growth has been surprising to the upside. New worries are emerging, such as the trajectory of disinflation, and the pace and timing of rate cuts. In this environment, it is important to build a…
Subdued credit growth and weak global trade will remain headwinds for Emirati stocks. Surging property prices, which have led to a boom in real estate stocks, will also peak soon. Stay neutral on this bourse. Sovereign credit…