The 10.4% contraction in Taiwanese export orders for February delivered a negative surprise to expectations that the pace of expansion would slow from 1.9% y/y to 1.2% y/y. However, investors should not read too deeply into this…
Turkey’s macro policy stance can hardly be called orthodox. And yet, corporate profit margins will contract meaningfully this year. The lira can also fall massively even if inflation eases from the extremely high levels – just as it…
Singapore non-oil exports (NODX) largely disappointed in February, contracting by 4.8% m/m following a 2.3% m/m expansion in January, and falling below expectations of a milder 0.5% m/m decline. In a similar vein, the 0.1% y/y…
Improved consumer morale will not compensate for the fading tailwinds to consumption. Neither will the wealth effects from higher stocks and home prices.
As we highlighted in a recent Insight, dynamics have shifted beneath the surface of the S&P 500. The Materials sector has been rallying sharply since the end of January, gaining 9.9% over this period and taking the top spot…
Chinese private sector credit demand remained weak in February, sending a negative signal about domestic economic conditions. Total social financing growth slowed from a record CNY6.5 trillion in January to CNY1.56 trillion,…
The US retail sales report for February delivered a disappointing signal on Thursday. Although retail sales returned to expansion, the 0.6% m/m increase fell below anticipations of a 0.8% m/m rise. In addition, the prior month…
According to BCA Research’s Counterpoint service, ‘bad unemployment’ is on the rise in the US, despite resilient growth. There are two ways that you can become unemployed. Either by losing your job. Or by…
Despite the hotter-than-expected US CPI report for February, the S&P 500 rallied on Tuesday and closed at a fresh record high. Equity investors were unphased by the release and appear to have come to terms with projections…