As expected, the Fed decided to keep policy unchanged at the conclusion of the FOMC meeting on Wednesday. The changes to the Fed Statement generally indicate that the central bank is preparing to move towards easing monetary…
We describe and explain the wide disparity of wage inflation across G7 economies, and discuss what it means for the Fed, ECB, BoE, and BoJ policy moves in the coming year. Plus: we highlight two investments ripe for reversal, and two…
Results of regional Fed surveys suggest that the US manufacturing sector is starting the year on a weak footing. Monday’s report from the Dallas Fed– the last to release its results for January – showed the…
We present the performance review of the Global Fixed Income Strategy Model Bond Portfolio for 2023. We also discuss the outlook for 2024 performance based on our Key Views for the year. The portfolio is positioned to benefit from a…
According to BCA Research’s The Bank Credit Analyst service, there are two important flaws in the market’s “Goldilocks” narrative. First, investors are assuming inflation will fully return to target…
Friday’s US Personal Income and Outlays report for December delivered a positive update on the US economy. On the growth side, the data confirm the signal from the Q4 GDP release that consumer spending continues to power…
Low inflation argues for the Fed to move relatively quickly toward rate cuts. Continued above-trend GDP growth poses a risk to this view, but leading indicators point to slower growth in the coming quarters.
We look at the implications for FX from the slew of central bank meetings this week.