Sectors
European regulatory carbon credits (EUAs) are becoming increasingly investable as an asset class. In a Special Report published last September, our Global Investment strategists agreed to the strategic bull case for EUAs, but highlighted a bearish view on…
The equal-weighted S&P 500 index reached a new all-time high of 7,096.12 on Monday. Chair Powell’s comments at the Jackson Hole Symposium last week dispelled any remaining doubt about a September rate cut and sent smaller stocks higher. The Russell…
According to BCA Research’s US Political Strategy service, in the final months of an election cycle, equities underperform relative to non-election years. This extends further into Q1 of the following year due to uncertainty. Once the election results are…
Our negative stance on European growth and assets is not devoid of risks. To gauge whether these risks warrant upgrading our growth outlook, we monitor Sweden closely. So, what is the current message from this Nordic economy?
Favor Health Care and Utilities for defensive positioning amid economic slowdown and volatility as the presidential election approaches. A Republican Sweep favors Real Estate and Materials, while the second most likely outcome, Democrat gridlock, favors Health Care, and Information Technology.
It didn't take long for markets to utterly shrug off the surprise rise in July's unemployment rate. On Tuesday, the S&P 500 closed higher than it was the day before the July Employment Situation report was released. The Russell 2000 gained 5.2% since…
Singapore is a small open economy sensitive to global trade dynamics. Its non-oil exports (NODX) are thus a good bellwether for global growth conditions. They rebounded sharply in July from a previous contraction, largely exceeding expectations. Notably,…
Preliminary estimates suggest that US retail sales surprised to the upside in July. They grew by 1.0% m/m from a 0.2% monthly contraction in June, exceeding expectations of a slower 0.4% pace of growth. Sales of vehicles and parts (+3.6% m/m) were the main…
US industrial production fell by a larger-than-expected 0.6% m/m in July, the largest monthly decline so far this year. Capacity utilization also decreased a full percentage point to 77.8% Although Hurricane Beryl distorted these nationwide July numbers,…
China’s economic malaise extended through the month of July. The contraction in property investment worsened (-10.2% YTD y/y) and disappointed expectations of a slower pace of decline. Residential property sales remained dismal (-25.9% YTD y/y). Industrial…