The survey data suggests China is struggling: the NBS PMIs were poor for October across manufacturing and non-manufacturing. It is easy to see that a combination of trade fights and…
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Energy deflation will prolong the economic upswing underway in the global economy. Technology is driving down the costs of renewables quickly: this will be a powerful stimulus for many countries…
The rally in equities of recent months is not a simple by-product of lower interest rates. The resilience of the US economy in the face of persistent, so-called ‘global, macro…
Today’s PMIs for the Eurozone were a mixed bag. The positives (the improvement in services for France) were counterbalanced by signs of persistent weakness in Germany. These surveys reflect in…
There are clear signs that the tech cycle has bottomed. Last week, TSMC beat Q3 earnings expectations – in part due to 7nm chip production – and delivered significantly higher-than-expected…
The latest NAHB survey provides the strongest signal yet that housing be will be a bigger contributor to growth heading into 2020. The NAHB survey has improved because monetary policy…
Beijing is learning fast and is aware of the perils of stoking asset price bubbles to provide a short-term boost to the economy. Consumer debt hit a record 51.1% of…
It is perhaps ironic. In a week that saw clear evidence inflation is tracking well below target, and may be falling again, Treasury yields have jumped. The external risks have,…
