Global Macro: Latest News and Analysis

The US dollar has surged to near its highest level of the year, but UBS analysts believe this strength is unlikely to be sustained, citing factors such as expected Fed rate cuts and concerns about the US fiscal deficit. The DXY index, which tracks the US dollar against six major

The US Senate Budget Committee has launched an investigation into domestic oil producers, seeking to determine whether they have illegally coordinated oil prices with the Organization of the Petroleum Exporting Countries (OPEC), as reported by Reuters on Thursday. This probe represents the latest effort by Democratic lawmakers to pressure energy

The US economy expanded at an annualized rate of 1.4% in the first quarter of 2024, according to the estimate released by the Bureau of Economic Analysis (BEA) on Thursday. This represents a slight upward revision from the second estimate of 1.3% growth, but still signals a significant

U.S. crude oil refinery inputs decreased slightly last week, according to the latest weekly report from the Energy Information Administration (EIA). Refinery operations, while still robust, showed a dip in activity, with a 234,000 barrel per day decline in inputs compared to the previous week. Despite this decrease,

Chinese companies are pouring billions of dollars into Argentina's lithium industry, with a total of seven projects under development across the provinces of Jujuy, Salta, and Catamarca, according to a recent report by the Bolsa de Comercio de Rosario (BCR). The report estimates a combined investment of $3.

The high-yield bond and leveraged loan markets have experienced a dramatic resurgence in the first half of 2024, with issuance volumes soaring and spreads tightening to 15-year lows. According to Brian Tramontozzi, JP Morgan’s North American head of Leveraged Finance Capital Markets, this rebound is driven by a confluence

Industry analysts are projecting strong earnings growth for the S&P 500 in both 2024 and 2025, with double-digit growth anticipated in both years, according to a note published by FactSet. Analysts collectively predict that the S&P 500 will report year-over-year earnings growth of 11.3% in

China’s economic recovery continues to face headwinds, leaving many wondering about the best path forward. In a recent interview with CNBC, Keyu Jin, a professor at the London School of Economics, argued that a government stimulus package is crucial to jumpstart the economy and restore consumer confidence. In an

Oil prices are expected to moderate in the coming months as OPEC+ phases out additional output cuts, according to a new update from Fitch Ratings. While Brent crude oil prices reached USD90 a barrel in April due to heightened tensions in the Middle East, prices have since declined as those

OPEC+ has agreed to wind down voluntary production cuts, signaling a shift in strategy and potentially sending oil prices lower, Moody's Analytics observes in a note published on Thursday. This decision marks a tacit admission by OPEC that its efforts to prop up oil prices have failed to