The ECB will begin cutting rates in June, what does this start date imply for the yield curve and European cyclicals?
The Central Bank of Brazil (BCB) has cut the Selic rate by 50 basis points in each of the past four meetings and has alluded to maintaining this size of cuts for the coming meetings. Governor Roberto Campos Neto stated last month…
After having traded sideways for the past month, US equities ended the week on a high note with the S&P 500 closing at fresh record high on Friday. Last year’s winners are once again driving the rally. Information…
Inflation cooled for the second consecutive month in Japan with annual headline CPI inflation falling from 2.8% y/y to 2.6% y/y in December. Underlying inflation gauges also cooled, with the December prints of core and “…
An update to our outlooks for the Fed’s interest rate and balance sheet policies following this week’s remarks from Fed Governor Waller.
According to BCA Research’s Emerging Markets Strategy service, Indian stocks, which benefitted immensely from foreign portfolio inflows and are now very expensive, remain vulnerable to any global risk-off sentiment. The…
The Fed’s latest Beige Book delivered a lukewarm message on the US economy. Growth, employment, and prices were all relatively stable since the previous release in late-November. Eight districts reported little or no change…
Recent data suggest that the US housing market is resilient. In particular, a strong rebound in homebuilder sentiment is sending a positive signal. The NAHB Housing Market Index jumped from 37 to 44 in January – handily…
The performance of the Industrials sector tends to lag the business cycle, as companies invest in capex on the heels of economic expansion. But demand is not entirely cyclical, as the need to replace obsolete or aging equipment…
Chinese data continues to send a pessimistic signal for domestic risk assets and China plays. Although at 5.2% in Q4, GDP growth stands above the official target, it underwhelmed anticipations of 5.3%. Moreover, other data…