China's CPI and PPI inflation release for October indicates that deflationary pressures continue to dominate the domestic economy. After remaining unchanged in September, consumer prices declined by 0.2% y/y last month,…
The Magnificent Seven constitute 26.7% of the S&P 500 and are the cohort responsible for the majority of S&P 500 returns this year. Fundamentals, and, specifically, the profitability of the group are behind the strong…
China's industrial profits delivered a positive signal over the past couple months. Total profits expanded on a year-on-year basis in both August (+17.2% y/y) and September (+11.9% y/y). Rebounding industrial profits is…
Results of the October German IFO survey corroborate the positive signal from the latest ZEW survey. The headline Business Climate Index increased for the first time since April, rising from 85.8 to 86.9, above expectations of 86…
BCA Research’s US Investment Strategy service studied the SIFIs’ earnings calls for insights into borrower performance, lender willingness, liquidity and the actions and intentions of households and businesses.…
This year's rally in US equities has for the most part been narrow in breadth. The 19.5% increase in the S&P 500's price index in the first seven months of the year exceeds the equal weighted index's 9.5% gain…
The biggest banks report that consumer credit card delinquencies still have yet to get back to pre-COVID levels and other credit performance indicators, leading and lagging, remain solid. There is still a great deal of cash sloshing…
Friday the 13th marked the official start of the Q3-2023 earnings season. While the consensus is for modest earnings and sales growth, there may be some surprises in store for investors. Street Expectations According…
The Q3 earnings season will shift into high gear this Friday as banks report their financial results for the quarter. Among the trends that we’ll be watching for is insight on the outlook for profit margins. As our US…