Developed Markets
A Pause from the Old Lady? Some Might Say
Last week, we recapped some of the important developments or events through the summer period
Read MoreHigh US Yields Not Likely Reflecting Sticky Inflation
In this note, we focus on the period in the mid-1970s between the two oil price and US inflation spikes.
Read MoreEconomic Momentum: Growth is the New Inflation
In our last piece, prior to the brief summer interlude, we discussed the composition and market reaction to the US inflation reading for July…
Read MoreAn Update on the China Property Sector
China’s property sector is big, but not overwhelmingly big, compared to the cycle that Japan had in the late-1980s…
Read MoreDM Rate Cuts: From Talking To Walking, Growth is the Key!
Last week, we discussed the latest monetary policy decision from the Bank of England
Read MoreBank of England and the Path of Least Resistance
Last week, we discussed the latest round of central bank meetings from the Federal Reserve, ECB, and Bank of Japan…
Read MorePolicy Tightening Salad Days: Post ECB, BoJ and FOMC
Last week, against a lull in the global macro data calendar, we discussed the importance of what we referred to as “likely historically significant” upcoming DM central bank meetings…
Read MoreFOMC, ECB, BoJ: From Peaks to Troughs?
Last week, we discussed the increasing signs of rebalancing of supply and demand and how this is likely increasingly consistent with our view that ‘disinflation will be notable through 2023 in its significance and persistence
Read MoreSupply Chains, Inflation and Policy Rates: Back to the Ordinary?
Last week, we discussed the evolution of our views on the DM growth and inflation backdrop in the context of Fed policy…
Read MoreShelter Inflation Elevated Due in Part to the Fed
US headline inflation has fallen as sharply as it had risen, but core inflation has been stubbornly sticky on the downside for the past six months
Read More