Corporate
The Global Buyout Sector Is Expensively Valued…
Not A Crisis After All
Not…
US Speculative-Grade Corporate Bonds: Spreads Should Be Wider…
US Earnings Season: What Is Penciled In…
Winners Among Chinese Industrial Sectors…
The recovery of China’s industrial profits is set to disappoint in 2H 2023. Corporate profits are more sensitive to changes in prices than volumes. Given producers’ selling prices will keep deflating through 2023, industrial profits will only stabilize at a very depressed level even with a mild improvement in volume. A disappointing recovery in industrial profits entails more downward risks for A-share prices in absolute terms. Chinese 10-year bond yields are set to drop to a record low.
Recession Delayed, But Not Denied…
Canada’s Policy Rate Is Not Sufficiently Restrictive…
Real Earnings Growth Across Various Inflation Regimes…
Will The Equity Rally Broaden…