US nominal personal income growth decelerated to a 0.2% pace in August, from 0.3% in July, missing expectations that it would accelerate. Nominal personal spending also disappointed, growing at a slower 0.2% pace from 0.5%. In…
Markets are rallying on Fed rate cuts and China stimulus but there will also be October surprises ahead of the US election, which Trump could still win. Russia’s conflict with the West is escalating and the Middle East is…
According to BCA Research’s Commodity and Energy strategy service, even though US crude output will continue rising, a meaningful growth acceleration is unlikely. US producers adjust their output in response to market…
In a widely expected move, the Swiss National Bank (SNB) cut its policy rate for a third consecutive meeting on Thursday, from 1.25% to 1.00%. The move marked President Thomas Jordan’s final policy decision and his incoming…
This week has not been short of developments on Chinese policy. After unleashing a monetary policy blitz, the authorities held an unscheduled Politburo meeting resulting in a pledge to take actions towards stabilizing the housing…
China’s Politburo announcement is likely to lead to a repricing of China’s growth in the near-term. Read how investors can hedge against this potent threat to our defensive investment stance.
In a widely expected move, the Riksbank lowered its policy rate from 3.5% to 3.25% in September, marking its third cut this year. It embarked on its easing cycle in May, leading many other DM central banks, and has been…
According to BCA Research’s Emerging Markets Strategy service, Brazil’s decision to raise interest rates is supported by recent economic data. Back in January of this year, they noted that Brazil would…
The PBoC announced further measures to stimulate the economy on Tuesday. It lowered the reserve requirement ratio from 10% to 9.5%, cut the 7-day reverse repo rate by 20 bps (following Monday’s 10 bps cut to the 14-day…
Export dynamics from small open economies are a good bellwether for global growth conditions. Taiwan export orders accelerated from 4.8% y/y to a faster-than-anticipated 9.1% in August. The faster pace of growth was also broad…