According to the latest MBA weekly survey, mortgage applications increased 3.7% in the week ending February 2. The contents of the report were mixed. A 12.3% jump in the refinance index drove the increase while mortgage…
The disinflation to date has been benign because it has come almost entirely from improving supply. But the supply-side tailwind has exhausted, so the last mile of the journey to 2 percent inflation will be the hardest, especially in…
As expected, the Reserve Bank of Australia kept the policy rate unchanged at 4.35% on Tuesday. The updated economic forecasts show a downward revision to the growth outlook for this year versus the previous round of…
Our Portfolio Allocation Summary for February 2024.
BCA Research’s European Investment Strategy service upgrades Swedish government bonds to neutral from underweight within European fixed-income portfolios. The Riksbank kept its policy rate steady at 4% last week.…
Treasury yields continued to push higher on Monday, bringing the total increase over the past two trading days to 29bps. The move comes on the back of strong economic data releases indicating that conditions in the US are…
The US Federal Reserve Senior Loan Officer Opinion Survey (SLOOS) continues to show the impact of the Fed’s tightening cycle. Banks were still tightening lending standards for commercial and industrial (C&I),…
In this Insight our Equity Analyzer team explores how the S&P 500 behaves when the Fed Funds Target Rate drops by 25bps – 150bps within a single year. The current dot plot is signaling 75bps of cuts by the end of the…
The US Employment report came in well above consensus expectations on Friday, delivering a strong positive signal on labor market conditions in January. The 353 thousand increase in nonfarm payroll employment beat expectations of…