Subdued demand for credit among Chinese private-sector businesses and households persisted through July. Aggregate financing missed expectations, growing CNY 0.8bn to CNY 18.9bn in July on a YTD basis. New loans grew CNY 0.2bn…
US producer prices rose by a softer-than-expected 0.1% m/m in July, from 0.2% in June. The core measure remained unchanged, the tamest reading in four months. Notably, the index for final demand services fell 0.2% m/m. Our US…
The RBA kept its cash rate unchanged at 4.35% in August, in line with expectations. However, it lifted its trimmed-mean inflation forecast to 3.5% y/y in Q4 2024 and to 2.9% by Q4 2025 (up from 3.4% and 2.8% in its May forecast,…
The unwind of yen carry trades caused violent tremors across the globe. Was this shock a one-off event or the prelude to more troubles?
In this monthly review, we give our take on where bond yields and the dollar are headed. This is within the lens of revisiting our fundamental indicators.
Over the past few weeks, global equities have been hit by rising scepticism over the bullish AI narrative and increasing concerns over global growth. Stocks should stabilize in the near term, but the medium-term direction is to the…
The BoJ delivered a surprise rate hike last week, then proceeded to sending a more dovish signal on Wednesday. Deputy Governor Shinichi Uchida strongly hinted at a central bank that would refrain from hiking further in times of…
GeoMacro team partners with BCA’s Emerging Markets Strategy to examine political reforms in Argentina. Our colleague Juan Egaña argues that the time is not right to go long Argentinian assets and that Buenos Aires must avoid the…
Our Portfolio Allocation Summary for August 2024.