China’s reopening, combined with a slew of pro-consumption policy stimuli, will likely boost household consumption by 10% in nominal terms in 2023 from a year ago. Some of the hardest hit service sectors during the pandemic will…
We Introduce our new macro models for the Eurozone’s equity earnings, which include sectoral forecasts. Find out what they predict for the next six-to-nine months.
Several signs have emerged that the “bad news is good news” rally has run its course. Despite deteriorating economic data, the Fed is expected to maintain its “higher for longer” stance, disappointing the market. A rate cut is likely…
The equity market is back to the 2019 level on an inflation-adjusted basis. However, it is still not cheap as it is not pricing in the possibility of a prolonged and deep earnings recession or a higher interest rates regime. Many…
Airlines have staged an impressive recovery this year, exceeding all expectations. While companies are optimistic, we are cautious. Just as pent-up demand for travel will fade, headwinds from slowing growth and high inflation will…
In this report we scrutinize the state of US consumer finances, which are a key driver of the Payment Processing Industry. We expect demand for services to pull back in the early 2023 on the back of still high inflation and tighter…
Feature Clean energy names rallied yesterday on the back of the news that a reconciliation deal was struck to support Biden’s fiscal package. The deal, which was dubbed the “Inflation Reduction Act Of 2022”, includes…