The February Ifo Business Climate index for Germany slightly missed estimates, staying unchanged from 85.2 in January. While respondents’ assessment of the current situation weakened, expectations rebounded to 85.4 from 84.3. …
Our Chart Of The Week comes from Chester Ntonifor, Chief Strategist for our Foreign Exchange and Global Fixed Income Strategy services. A big macro trade over the last few years has been to shun US Treasuries, in favor of…
Eurozone banks have quietly outpaced the Magnificent 7—can they keep winning? With strong balance sheets, rising profitability, and structural tailwinds, European lenders still offer value despite short-term risks. Meanwhile, German…
A nascent theme in the latest data is the broad improvement in European sentiment. The February Sentix and ZEW surveys both improved, and flash estimates for European consumer confidence beat estimates, ticking up to -13.6%.…
The January UK CPI was slightly hotter than expected. Headline inflation beat estimates, rising to 3.0% y/y from 2.5% in December. Core inflation also jumped but was in line with expectations at 3.7%. Services were strong, albeit…
Overnight, the RBA cut the cash target rate for the first time since 2022, marking the beginning of the policy easing cycle in Australia. However, the RBA will proceed cautiously with further rate cuts, given a tight labor market and…
Our Foreign Exchange strategists reviewed the rationale to their short US dollar position as the DXY has been in a trading range with resistance near 110 and support around 100. The widening US budget deficit caps the dollar’s…
In lieu of all the geopolitical and economic news in media, this report looks at where next the dollar is likely to trend in the next one-to-three months. Our view is down, though on a cyclical horizon (six-to-twelve months), we…
While inflation concerns prevail in the US, Swiss inflation hit its lowest level in almost four years. Headline CPI contracted 0.1% m/m in January, leaving the annual inflation rate at 0.4%, near the bottom of the Swiss National Bank…
Our Emerging Market strategists published a follow-up piece to their Bessenomics note where they assess the new Treasury Secretary plan’s impact on markets. Lower interest rates are central to Bessenomics. The Trump…