5 Things We Watch: Downgrades, Cyclicals, Oil, JGBs and GDP/GDI
A credit downgrade of the US sovereign debt amidst a steepening of global curves triggered by the Bank of Japan finally making mini-steps towards...
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Expect the ISM Manufacturing to Rise to 48, Signaling 14% Downside for Equities
The regional US Manufacturing PMIs point to an increase of the ISM Manufacturing Index to 48.1 from 46. Yet, this is insufficient to erase the...
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Pause Watch: 25 bps and then a pause!?
A Fed pause historically means that the recession clock starts ticking and rings in the recession when the Fed starts cutting. The outlook for...
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Rates Watch: Will curves bear-steepen if the cyclical rebound is confirmed?
Welcome to this second asset-specific piece during our “Business Cycle Week”. Due to several of our indicators hinting at a short-term pick-up in...
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Markets Better Not Focus on Valuation
Valuation measures reveal pricy equities and cheaper Treasuries. A comprehensive overview of valuation across asset classes.
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