Economy
US Retail Sales Diverge from Weak Sentiment, Labor Deceleration Ahead…
Canada: Weak Growth and Soft CPI Point to More BoC Easing Ahead…
Indonesia’s policy easing will boost domestic demand, but fuel inflation. Current account deficit will widen, and the rupiah will weaken. Stay short the rupiah and go underweight Indonesian stocks, domestic bonds, and sovereign credit in their respective EM portfolios.
US Consumer Sentiment Weakens Along With Labor Market…
While it is impossible to know exactly when global equities will peak, there are now enough vulnerabilities to justify keeping one’s finger near the eject button.
August US CPI Shows Limited Inflation Outside Tariffs…
ECB Holds Steady, But Risks Still Skewed Towards Easing…
High US inflation is being driven by tariffs, not domestic inflationary pressure. This argues for Fed easing and a bull-steepening of the Treasury curve.
China: Weak Inflation, Stimulus Upside Limited…
European Sentiment Weakens Further in September…