Ongoing weakness in China was a base case for many heading in 2024. Sales at the 100 largest homebuilders fell 46% y/y in March. However, new orders and new export…
The core (ex-food & energy) PCE price index is ‘nowcast’ to have risen by an annualised 3.31% in Q1. If the Fed cuts three times this year, against this backdrop,…
The latest data reaffirm there is not a good case for cutting rates this year. The price action in gold is a sign of inflation concerns, loose monetary policy, a…
Rising share prices are not inflationary per se. But new highs in stocks, combined with record house prices, are putting some downward pressure on the labour force participation rate. Excess…
