Throughout this cycle, US housing has defied expectations. Overall home prices have never fallen since the pandemic, even as the Fed has conducted its second most aggressive tightening campaign in history. Today, home price…
The advanced estimates for US real GDP suggest that economic growth slowed meaningfully from 3.4% in Q4 2023 to 1.6% in Q1 2024 on an annualized basis, significantly below expectations of 2.5%. That said, the details of the…
Results of Germany’s IFO business climate survey for April sent a positive message on Tuesday. The overall Business Climate Index increased from 87.9 to 89.4, beating expectations of 88.9. Assessments of both the current…
Tuesday’s Australian inflation release came in hotter than anticipated. Quarter-on-quarter headline inflation increased from 0.6% in Q4 2023 to 1% in the first quarter of this year, above expectations of 0.8%. Although…
The disinflation process is over in Poland and Hungary. Only the Czech Republic will see its core inflation meet its central bank target this year. The reason is much tighter labor market dynamics in the first two. Investors should…
According to BCA Research’s US Equity Strategy service, Q1 earnings results signaled that net interest income (NII) growth is set to decline in US banks. For nearly two years, America’s largest banks enjoyed a…
Flash estimates for several European PMIs were released Tuesday. The results for manufacturing activity were somewhat disappointing. The German manufacturing PMI increased from 41.9 to 42.2, but underperformed expectations of…
Retail gasoline prices have surged 13% since the beginning of the year, boosted by resilient global demand and geopolitical tensions. A key question for investors pertains to the ability of US consumption to sustain further…
Preliminary S&P PMIs for the US showed the manufacturing index declined to contraction territory of 49.9 from 51.9, falling short of expectations of 52. The services PMI also disappointed coming in at 50.9, versus…