Economy

Special Report

Global oil supply will slightly exceed demand in the next six months, resulting in a small surplus. Brent oil prices will trade in a range with a floor at $80 per barrel, barring any geopolitical turmoil in the Middle East and/or escalation in the West-Russia conflict.

3 years ago

China

Essentials

German Investors Becoming Less Pessimistic

November’s reading of the ZEW Indicator of Economic Sentiment reveals that investors are becoming less pessimistic about the Eurozone economy. The expectations and current situation indices for Germany and the Euro Area jumped significantly above consensus…

3 years ago

Essentials

Credit Card Payment Processors: Living On Borrowed Time

BCA Research’s US Equity Strategy service is overweight credit card companies, but only over a short investment horizon. All of the largest credit card processing companies, such as Visa, Mastercard, and American Express, have delivered strong Q3-22 sales…

3 years ago

Essentials

US PPI Inflation Slows In October

US PPI inflation slowed to a lower-than-expected 8.0% y/y in October from a downwardly revised 8.4% y/y. Similarly, core PPI inflation eased to 6.7% y/y from 7.1% y/y, below expectations of 7.2% y/y. Both core goods and services contributed to the decline. …

3 years ago

Essentials

China’s October Economic Data Disappoint

Key indicators of Chinese domestic economic activity in October generated negative surprises. Retail sales contracted by 0.5% y/y, weaker than expectations of a growth slowdown from 2.5% to 0.7%. Similarly, industrial production and fixed assets investment…

3 years ago

Essentials

Eurozone IP Delivers Second Consecutive Positive Surprise

Euro Area industrial production expanded by 4.9% y/y in September, following an upwardly revised 2.8% y/y and beating expectations of a 3.0% y/y increase. Similarly, the 0.9% m/m increase also exceeded consensus estimates of 0.5% m/m. Higher production of…

3 years ago

Essentials

An Imminent Chinese Property Recovery?

Shares of Chinese property developers rallied sharply on Monday following news of Beijing’s 16-point plan to help resuscitate its struggling property market. The measures announced include extensive support for both property developers as well as home buyers.…

3 years ago

Essentials

NY Fed Inflation Expectations Rebound

Results from the New York Fed’s October Survey of Consumer Expectations underscore that the Fed still has its work cut out for it. Household inflation expectations rebounded with median one-year-ahead expectations increasing from 5.4% to 5.9%,…

3 years ago

Equities

Will Americans Continue To Spend?

In this report we scrutinize the state of US consumer finances, which are a key driver of the Payment Processing Industry. We expect demand for services to pull back in the early 2023 on the back of still high inflation and tighter monetary policy. The payment processing companies thrive but live on borrowed time. We are overweight for now but monitor this position closely.

3 years ago

CoreMacro

The Conflict: CPI vs Growth

The decline in the US CPI is a tailwind for European stocks, but does it compensate for weaker global growth?

3 years ago

Economy

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