Developed Markets
Banking Stress Brings Inflation and Growth Risks Back into Balance
We are now increasingly of the view that the ECB, Fed, BoE, BoC, RBA and SNB have reached the end of their respective policy hiking cycles…
Read MoreA Closer Demand and Supply Balance – What Are The Odds?
Last week, we discussed the dominant ongoing theme: inflation, growth and monetary policy…
Read MoreThe 5% GDP Growth Target
On March 5th, the government work report announced a GDP growth target of around 5% for 2023, which Premier Li Keqiang delivered on the first day of the National People’s Congress (NPC).
Read MoreA More Complicated Balancing Act: Growth vs. Inflation
Last week, we discussed the recent market reaction to the stronger-than-expected payroll and inflation data for January…
Read MoreA Clash of Opinions: Risks to ‘Higher for Longer’ are Real?
Last week, we discussed the recent, better-than-expected, US data and the dominant market inference that evolved as a result…
Read MoreUS Data: A Bump in the Road, or a Change of Direction?
Last week, we discussed the recent policy decisions from the ECB, BoE and the Fed and how their respective monetary policy trajectories…
Read MoreWhich Is The Bigger Risk: Growth or Inflation?
Last week, we discussed the most recent monetary policy decision meetings from the Fed, ECB and BoE…
Read MoreDM Central Banks: An Oasis of Hope, or Just a Blur?
Last week we discussed the significance of this week’s events on the global macroeconomic outlook and for financial markets.
Read MoreCentral Bank Preview: Right Notes, Wrong Order?
Last week we discussed the Bank of Japan and its monetary policy evolution against a complicated global macroeconomic backdrop.
Read MoreCentral Banks: Words vs. Actions
Last week we discussed our growing conviction that the Fed (and by extension a number of other DM Central Banks)
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