Industrials
Highlights Portfolio Strategy Corporate sector selling price inflation is nil while leading wage inflation indicators signal additional labor cost increases in the coming months. The risk is that profit margins have already peaked for the cycle. We…
Air Freight Had Its Wings Clipped Air Freight & Logistics…
Pricing Power Is Derailing…
Get Off The Rails…
The S&P transports index’s recovery rally has stalled recently and is a cause for concern for the overall market. In more detail, the recent gulf between relative share prices and the SPX has widened and warns that the overall market will likely pullback…
Brexit: End Of The Road For May…
The Canary In The Coal Mine…
Earnings Are Increasing Thrust In Aerospace…
Neutral In this week’s Special Report, we moved to a neutral recommendation on the BCA aerospace index. The report highlights the two pillars supporting the aerospace index and its relative performance: global trade sentiment and execution-driven profit…
Feature It no longer pays to be underweight the BCA aerospace index considering the long profit growth runway and potential trade easing catalysts. Accordingly, we are moving to a benchmark allocation in this sector. There are two pillars supporting the…