Developed Countries
The US JOLTS report sent a chill through financial markets on Tuesday. The bigger-than-expected number of job openings in August fueled investors’ concern that the Fed will be forced to maintain a hawkish stance for longer. Indeed, the number of job…
The Australian dollar was among the worst performing major currencies on Tuesday after the Reserve Bank of Australia held the cash rate at 4.1% for the fourth consecutive month. In her post meeting statement, newly appointed Governor Michele Bullock noted…
The Citi US Inflation Surprise Index has risen over the past two months after having bottomed at a three-year low in July. The good news is that the level of the index remains negative after having first fallen below zero in April – meaning inflation data is…
The S&P 500’s performance deteriorated significantly in Q3. After having soared by nearly 16% in the first half of the year, the index ended the third quarter with a 3.7% loss. True, a surge in AI winners drove the H1 performance: IT, Communication…
According to BCA Research’s European Investment Strategy service, the Mediterranean bloc’s move from current account deficit to current account surplus nations greatly limits the risk of a new sovereign debt crisis. A combination of reforms, fiscal rigor,…
We present our Portfolio Allocation Summary for October 2023.
In the monthly Daily Insights Survey we conducted over the past week, we asked about our readers’ outlook for oil prices, Fed policy, and the global economy. On the outlook for crude oil, a larger share of respondents expect the price of oil to end the…
The Global Manufacturing PMI ticked up by a marginal 0.1 point to 49.1 in September, indicating that manufacturing activity deteriorated at a slightly slower pace than in August. However, several of the details of the report were more optimistic. In…
Introducing our Special Series to assess where Portugal, Italy, Greece, and Spain stand today. Stay tuned for more.
Aggressive monetary tightening has always led to recession, although the timing is uncertain. The effects of high interest rates are starting to be felt. Investors should stay risk off and buy government bonds as a safe haven investment with carry.