The US retail sales release delivered a positive signal about the US economy in December. The 0.6% m/m increase in overall retail sales beat expectations of a more muted acceleration from 0.3% m/m to 0.4% m/m. Importantly, the…
Results of the ZEW survey sent a slightly positive signal on German investor sentiment. The economic expectations indicator rose to an 11-month high in January – beating consensus estimates of a decline. This increased…
The New York Fed’s Empire State Survey delivered a somber signal about US manufacturing conditions. The headline general business conditions index plunged from -14.5 to -43.7 in December, disappointing expectations of an…
The US manufacturing renaissance, spurred on by reshoring, automation, and government spending, is running its course but progress has slowed on the back of tight monetary conditions and the manufacturing recession. The deceleration…
The commodity complex struggled last year with the Goldman Sachs Commodity Index falling by 12% despite the relatively favorable performance of other cyclical financial assets. Several factors contributed to this weakness. In the…
China’s central bank unexpectedly held the medium-term policy rate unchanged at 2.5% on Monday, surprising expectations of a 10 basis point cut. Given that deflationary forces dominate China’s economy, the decision to…
Canada’s Business Outlook Survey (BOS) indicator increased slightly in Q4, suggesting that sentiment stabilized at the end of 2023. In particular, easing inflationary pressures amid weaker demand and greater competition…
The soft-landing narrative has won, but is too much of a good thing now expected by investors?
According to BCA Research’s Global Investment Strategy service, the EV boom, much like the initial auto revolution over a century ago, could experience several disruptions. Buying diesel-engine era heroes can act as a call…
Chinese credit dynamics remain muted with the expansion in total social financing easing from 2.45 trillion yuan to 1.94 trillion yuan in December, below expectations of a tamer slowdown to 2.16 trillion yuan. Loan growth also…