Economy
The final UK S&P Global Services and Composite PMIs for March were both revised down slightly from their flash estimates. While the report indicates that activity is still expanding, there has been a clear loss in momentum since February. The Composite…
It is too early for the RBA to begin cutting rates. Inflation remains above target, with core CPI currently standing at 3.4%, one of the highest numbers amongst major economies. The labor market is also fundamentally strong. Australia’s unemployment rate…
As a small open economy, Sweden’s economic performance is a good barometer of global growth developments. Swedish PMIs for March were overall positive. The Manufacturing PMI rose to the 50 boom-bust line following 19 consecutive months of contraction and…
Colombia: Macroeconomic Fundamentals, Public Finances, And Political Uncertainty Warrant Underweight
BCA Research’s Emerging Markets Strategy service argues that Colombia has fallen from grace in terms of its healthy macroeconomic fundamentals, business-friendly government policies, and conservative fiscal stances. Since the election of President Gustavo…
Climbing US bond yields, alongside higher oil prices, might spoil the party for global risk assets. There are budding cracks in EM domestic bonds, and even though we like this asset class in the long run, investors exposed to it should reduce their positions for now.
Flash estimates for Euro Area inflation in March surprised to the downside. Headline inflation slowed from 2.6% to 2.4% versus expectations of 2.5% and core inflation eased from 3.1% to 2.9% versus expectations of 3%. While the stickiness of services…
The US manufacturing sector appears to be enjoying a revival. As we highlighted yesterday, the ISM manufacturing PMI unexpectedly returned to growth in March and the S&P Global US manufacturing PMI remains in expansion territory. Yet, service sector…
The extraordinary performance of AI companies has pushed US growth stocks to new highs. So far, the MSCI US Growth Index has returned almost 11% since the start of the year, outperforming global stocks by over 3%. No growth index from the rest of the world…
According to BCA Research’s China Investment Strategy service, the growth rate of China’s infrastructure investment will likely slow from a nominal 9% last year to about 6% this year. Funding constraints will limit local government capability to invest in…
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