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Global Macro

S&P 500 Earnings Season Shows Mixed Results, but Index Reports Highest Growth Since Q4 2021

The S&P 500 is reporting a mixed bag of results for the second quarter of 2024, with companies exceeding earnings estimates at a higher-than-average rate, but the magnitude of those surprises is below average, according to a note published by FactSet on Friday. Despite this mixed picture, the

US Dollar Rally Unlikely to Last, UBS Says, Outlining Implications for Major Currencies

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

China Needs a Stimulus Package to Boost Consumer Confidence, Says LSE Professor

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

OPEC Abandons $100 Oil Dream as Production Cuts Wind Down, Moody's Analytics Reports

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

Global Manufacturing Growth Gains Momentum in May

The global manufacturing sector continued its recovery in May, with output and new orders expanding at a faster pace, according to the latest J.P.Morgan Global Manufacturing PMI released on Monday. The PMI, a composite index tracking manufacturing activity across major economies, rose to a 22-month high of 50.

US Commercial Real Estate Faces Repricing Risk as Debt Maturities Loom

The US commercial real estate (CRE) market is navigating a challenging landscape, with rising vacancy rates, declining valuations, and a looming maturity wall threatening to further weaken the sector, according to a note published by the Federal Reserve Bank of St. Louis on Thursday. The note highlights the potential for
US Commercial Real Estate Faces Repricing Risk as Debt Maturities Loom

Goldman Sachs Projects 50% Growth for Global Gas Market

The global oil and gas industry is undergoing a major transformation, driven by declining oil demand and rising global demand for natural gas, according to a new note published by Goldman Sachs Research on Thursday. This shift is evident in investment trends, with oil investment showing signs of peaking in
Goldman Sachs Projects 50% Growth for Global Gas Market

VIX Rebounds on Fed Rate Cut Uncertainty: Moody's Analytics

US credit markets are exhibiting mixed signals, with investment-grade credit spreads narrowing slightly while high-yield spreads widen, according to the latest report from Moody's Analytics. This divergence reflects a continued belief in a soft landing for the economy, but also growing concerns about the potential for stress among

US Economy Slows in Q1 2024 as Corporate Profits Decline, BEA Reports

The US economy grew at an annualized rate of 1.3% in the first quarter of 2024, a significant slowdown from the 3.4% growth recorded in the fourth quarter of 2023, according to the estimates released by the Bureau of Economic Analysis (BEA) on Thursday. This revised figure is

Global House Price Declines Moderate Further in Q4 2023, BIS Reports

Global house prices continued their downward trajectory in the fourth quarter of 2023, though at a more moderate pace, falling by 1.2% year-on-year (yoy) in aggregate and in real terms, according to the latest statistics released by the Bank for International Settlements (BIS). The recent decline in global house
Global House Price Declines Moderate Further in Q4 2023, BIS Reports