Exemplary disinflation has become the dominant narrative, after a string of ‘positive’ CPI reports in the US. But all eyes should be on industrial metals, which are signalling that the…
Read More
The Chief Economist of the BoE was right to highlight the “unique combination of challenges facing the UK economy” in a recent speech given on January 9th. According to Huw…
We would suggest remaining long yen against the dollar, supported by a widening underlying Japanese current account surplus. JPY/GBP could be an even better trade, given the Labour strife in…
US Treasuries have rallied since Friday’s payrolls report and the weak services ISM. But markets are paying a lot more attention to Japan now. Another rise in the Tokyo CPI…
All told, the improvement in the inflation and wage data (see US Chartbook, published earlier today) – combined with the services ISM and Credit Managers’ indices – suggest the Fed…
US inflation eases (pages 2-8) Personal consumption resilient, despite dip in confidence (pages 9-13) Real GDP holding up, no recession (pages 14-17) Surveys look very weak, except future indicators for…
Eurozone inflation drops in December, but core CPI climbs again (pages 2-8) German new orders trending down: Ifo, PMIs show signs of a trough (pages 9-27) Retail spending slips, but consumer…
