Highlights Going into the new crop year, we expect the course of the broad trade-weighted USD to dictate the path taken by grain and bean prices (Chart of the Week). Higher corn stocks in the coming crop year, flat wheat stocks and…
Highlights The rapid spread of the COVID-19 delta variant in Asia will re-focus precious metals markets anew on the possibility of another round of lockdowns and the implications for demand, particularly in Greater China and India,…
Our colleagues at BCA Research’s Equity Analyzer service recently examined the performance of global equity sectors during different phases of the pandemic. The team identifies two phases of waves in US daily COVID-19…
Highlights Recent progress on the path to a post-pandemic state and the return to pre-COVID economic conditions has been mixed. The share of vaccinated individuals continues to rise globally, and the number of confirmed UK cases has…
An improvement in US economic data – particularly employment gains – will be among the factors that will buoy Treasury yields later this year. However, this is unlikely to occur before the fall – once expanded…
Highlights Economy – The inevitable deceleration has arrived, but the economy is still growing far faster than trend and will continue to do so through 2022: A wide range of data series shows that US growth has likely peaked but…
Highlights The Delta variant will continue causing jitters but there is much greater evidence today than there was in early 2020 that humanity can curb the virus, both with vaccines and government stimulus. Delta jitters will…
Dear Client, We will be presenting our quarterly webcast next week, and, as a result, will not be publishing on 29 July 2021. We will cover our major calls for the quarter and provide a look-ahead. I look forward to…
Feature June’s economic data and second-quarter GDP indicate that China’s economic recovery may have peaked. Slight improvements in some sectors, including manufacturing investment, exports and consumption, were offset by…