Economy
US PPI inflation slowed to a lower-than-expected 8.0% y/y in October from a downwardly revised 8.4% y/y. Similarly, core PPI inflation eased to 6.7% y/y from 7.1% y/y, below expectations of 7.2% y/y. Both core goods and services contributed to the decline. …
Key indicators of Chinese domestic economic activity in October generated negative surprises. Retail sales contracted by 0.5% y/y, weaker than expectations of a growth slowdown from 2.5% to 0.7%. Similarly, industrial production and fixed assets investment…
November’s reading of the ZEW Indicator of Economic Sentiment reveals that investors are becoming less pessimistic about the Eurozone economy. The expectations and current situation indices for Germany and the Euro Area jumped significantly above consensus…
BCA Research’s US Equity Strategy service is overweight credit card companies, but only over a short investment horizon. All of the largest credit card processing companies, such as Visa, Mastercard, and American Express, have delivered strong Q3-22 sales…
Euro Area industrial production expanded by 4.9% y/y in September, following an upwardly revised 2.8% y/y and beating expectations of a 3.0% y/y increase. Similarly, the 0.9% m/m increase also exceeded consensus estimates of 0.5% m/m. Higher production of…
Shares of Chinese property developers rallied sharply on Monday following news of Beijing’s 16-point plan to help resuscitate its struggling property market. The measures announced include extensive support for both property developers as well as home buyers.…
Results from the New York Fed’s October Survey of Consumer Expectations underscore that the Fed still has its work cut out for it. Household inflation expectations rebounded with median one-year-ahead expectations increasing from 5.4% to 5.9%,…
In this report we scrutinize the state of US consumer finances, which are a key driver of the Payment Processing Industry. We expect demand for services to pull back in the early 2023 on the back of still high inflation and tighter monetary policy. The payment processing companies thrive but live on borrowed time. We are overweight for now but monitor this position closely.
The decline in the US CPI is a tailwind for European stocks, but does it compensate for weaker global growth?
In this report, we identify the Norwegian krone as a currency that could outperform especially at the crosses, irrespective of the broad dollar trend.