Developed Markets
Europe’s Gas Strategy: So Far So Good
A year ago, Russia’s gas embargo seemed like an insurmountable challenge for Europe.
Read MoreCentral Banks at Easter: A Time for Reflection?
While it remains unclear what the magnitude of the banking sector concerns will be on the real economy, it is clear that the seriousness of the issue likely leads to a new wave of bank or asset regulation…
Read MoreFalling Inflation to Bring Down the Dollar in 2023
We expect US inflation to continue to decline at roughly the same pace as it rose in 2021 and the first half of 2022…
Read MoreAbsolute, Not Relative: Are Markets Missing the Wood for the Trees?
Last week we discussed the continued focus of Developed Market Central Banks on the prospect of continued above trend or ‘sticky’ inflation…
Read MoreJoining the ‘Dots’: Credit Tightening and the Monetary Cadence
Last week we discussed the evolution of the monetary impulse in developed markets this year.
Read MoreBanking 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 MoreOn the Prospective Manufacturing Divestment from China
What are the implications of the world divesting from China’s manufacturing sector?
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…
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