Economic Growth
Hot UK CPI Pushes Back On Summer Rate Cut…
Wealth Effects Will Not Boost Consumption Meaningfully…
Earnings Guidance Leaves Room For Downward Surprises…
Rise In Serious Delinquency Rates: A Canary In A Coalmine…
Mixed Messages From Global Growth Bellwethers…
Eurozone Near-Term Growth Prospects Improve…
India: Structurally Bullish, Tactically Bearish…
Modi and the BJP are at or near the peak of their political dominance, and their third term will be challenging as they must deal with harder reforms amidst a slowing domestic and global economic environment. In the long run, however, we remain constructive on India’s prospects, as its geopolitical and economic positioning are favorable and improving.
Deteriorating Data Complicates BoJ’s Path To Tightening…
We marked the first X on our Equity Downgrade Checklist and the latest JOLTS, Employment Situation and SLOOS releases brought us closer to ticking some others. We remain tactically neutral on equities but expect that we will underweight them as excess savings are further depleted, leading labor market indicators continue to soften and consumer credit performance continues to fray.