Insights

US inflation data continue to show no signs of price pressures beyond a near-term tariff effect....

Japan's first woman prime minister, Sanae Takaichi, will underperform on economic stimulus but outperform on defense spending and strategic diplomacy. Stay long Japanese yen....

Beijing’s quiet pivot toward RMB strength and a deep valuation discount set the stage for a multi-year appreciation. Our latest FX Insight explores why we see the CNY rising to 6.5–6.8 versus the USD over the next year....

Reduce risk exposure in the very near term as President Trump's ceasefire effort falters, Russia tensions spike, and US-China trade prospects suffer....

The Fed is poised to deliver a 25-basis-point rate cut this month, but a follow-up rate cut in December will depend on how the divergence between strong consumer spending and weak employment growth is resolved....

Investors should not count on buoyant growth in the ASEAN and Indian economies because of manufacturing relocation away from China in the next couple of years....

Same policy rate, very different expectations. We break down why policy convergence between the Fed and BoE is THE fixed income trade for year-end....

The most significant divide in the stock market and the economy is the gap between companies positioned to benefit from the AI boom and companies without a link to it. The former are surging while many of the latter are struggling....

Strong results and constructive commentary from the US’s largest banks are encouraging: Consumers remain in solid shape, and the macro backdrop continues to favor equities. The outlook for the largest banks is positive, and they are unlikely to be affected by isolated credit events....

Speculative froth has built up across all precious metals, yet gold’s structural tailwinds will allow it to weather corrections better than its peers....