Last week, the BEA released its 2024 annual update of the National Economic Accounts (NEAs), alongside the third estimate of Q2 GDP, and its revised estimate of corporate profits for…
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The S&P 500 closed at a fresh high yesterday (5,718.6) as the Fed cuts rates into a strong economy. The real estate sub-index in the S&P 500 is up 17.0%…
Rate futures are factoring in about 250 basis points in Fed cuts by September of 2025. Such steep cuts have historically coincided with (deep) recessions. However, there are many important…
Chinese government bond yields continue to tumble as deflation becomes entrenched. As usual, there have been calls for China to adopt an aggressive fiscal stimulus to reflate the economy, directly…
Underlying wage growth continues to strengthen, keeping the BoJ firmly on track to pursue further policy normalisation. The y/y for contractual, scheduled cash earnings accelerated to 2.7% in July, the…
