Inflation/Deflation
European profits margins are elevated. Will a mild recession be enough to bring them down?
Japanese CPI Inflation Eases More Than Expected…
UK Inflation Comes In Hotter Than Expected…
On US Housing And Inflation…
In this note, we preview the Q1-2024 earnings season, give our take on expectations and share what we will be watching.
In the near term, favor oil and oil producers outside the Gulf Arab states. Over a 12-month horizon, favor US and North American equities, defensive sectors over cyclicals, and safe-assets. Within cyclicals, stick to energy and defense.
US Retail Sales Come In Hot…
Cool Inflation Print Means Riksbank Will Cut…
Higher Perceived Inflation Weighs On Consumer Morale…
In the short run, global risk assets are vulnerable due to rising oil prices and bond yields. Cyclically, a global economic downturn will weigh on global risk assets.