United States

Our Commodity strategists provided an update on precious metals and the impact of US tariffs on commodities. Elevated policy uncertainty will drive a rally in precious metals over the next 12-to-18 months, but not all metals will benefit equally. Gold…

The January NFIB Small Business Optimism Index decreased more than expected to 102.8 from 105.1. After reaching near all-time highs in the wake of the election, expectations pulled back somewhat as uncertainty took center stage.  The decline was…

While geopolitics captured the latest headlines, Eurozone  economic surprises  have turned positive, while those in the US are on the verge of turning negative. Global economic surprises hinge on expectations and realized data, and they play a…

The New York Fed’s Survey of Consumer Expectations’ 1-year and 3-year inflation expectations were unchanged in January. Five-year ahead expectations however increased, as did expectations for staples inflation, while spending expectations…

Our Chart Of The Week comes from Melanie Kermadjian, from our Global Investment Strategy team.  The S&P 500 has been in a bull market for nearly five years and is currently up 2.5% YTD. A lot has been thrown at the US stock market so far this…

The preliminary February University of Michigan Consumer Sentiment Index missed estimates, falling to 67.8 from 71.1 in January. The decrease came from both expectations and the assessment of current conditions. Measures of 1-year and 5-10 year inflation…

Our Emerging Market strategists published a follow-up piece to their Bessenomics note where they assess the new Treasury Secretary plan’s impact on markets. Lower interest rates are central to Bessenomics. The Trump administration is expected to pressure…

The January US jobs report was solid, reflecting a healthy labor market. Payrolls rose by less than expected at 143k, down from an upwardly-revised 307k in December, leaving the 3-month moving average at 237k. The unemployment rate ticked down 0.1% to 4.0%…