The Bank of Japan published a more detailed breakdown of real exports on Monday, showing a 6.9% m/m jump in shipments to the US in April. Japan’s trade surplus with…
IT stocks have had a turbulent month. They fell a further 2.8% last week and were surpassed by real estate on Friday as the best performing S&P 500 sector year-to-date…
The data, it would appear, are clear. Market concentration has risen, which has led to a fall in business dynamism, a lower labour share of income, and (apparently) subdued investment…
The probability of a rate cut this year has increased. Treasuries rallied strongly on Wednesday following soft data for industrial production and retail sales. The 3m/3m annualised rate for manufacturing…
The latest escalation in the tit-for-tat trade war has roiled markets. Yesterday’s data on passenger car sales from China were not positive either: sales dropped 8.5% m/m in April. There…
The core CPI ex-food, energy & shelter fell for the third consecutive month in April (-0.05% m/m). The 3m/3m annualised rate tumbled to 0.41%. In the context of April’s strong…
