Equity markets could hit new highs in 2020: higher productivity can compensate for a declining jobless rate, to ensure any pick-up in wages is not inflationary. If, on the other…
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IT shares were pulled lower on Friday by disappointing guidance from Micron Technology. It is worth emphasising: the rapid migration to 7nm chips is providing a big lift for Taiwan Semiconductor Manufacturing…
By instinct, investors are apt to think of radical, left leaning political leaders as a risk, or a negative, for asset values. There are plenty of reasons why the election…
Jay Powell wants stronger residential investment, and that is what he is going to get. The housing market may have reached an inflexion point: construction spending should accelerate in H2….
The mood music around trade negotiations has improved, but last week’s ‘reflation trade’ – led by a rally in financials and energy stocks – is being driven by a strong…
Wages are rising more quickly: the US is clearly up against the constraints of full employment. The 3-month annualised change for average hourly earnings (total private employees) hit 4.24% in…
The trade spat between the US and China has not hurt US companies, it would appear. Recent revisions (annual update for real GDP, released July 26th) had seen profits revised down…
Stocks fell on Friday as China hit back at the US with additional tariffs of between 5% and 10% on $75bn worth of imports. President Trump was swift to retaliate,…
The domestic economy remains strong and there is no leverage problem in the household sector. Today’s savings ratio (8.1%) and the upward trend of recent years stands in marked contrast…
Energy has been the worst performing sector for the stock market so far this month, with a drop of 10.45%. The shale oil industry has managed to cut costs since…
