Macro Global markets leaned toward a cautiously constructive tone as Washington and Beijing reached a limited truce and central-bank guidance softened slightly. The agreement eased near-term risks around tariffs and critical minerals, while monetary policy remained broadly supportive, though without…
Macro The global outlook brightened slightly last week as inflation pressures continued to ease and expectations for further monetary easing firmed. Investors welcomed another soft U.S. inflation reading and a wave of supportive policy signals from major central banks, even…
Macro Volatility has returned to Wall Street as markets face a convergence of risks, including rising U.S.–China trade tensions, historically expensive stocks, and growing strains in the credit market. After months of relative calm, price swings have increased across major…
Macro The most significant development this week was President Trump’s pledge to impose a 100% tariff on Chinese imports and restrict exports of “critical software” starting November 1. The move was a direct response to Beijing’s decision to tighten export…
Macro The immigration growth in the U.S. is now one of the lowest in the last 80 years. For this reason, payroll numbers can be much lower to maintain low unemployment. Some measure that the monthly payroll number can be…
Macro Household spending rose more than expected in August, extending a three-month streak of solid gains and underscoring the resilience of U.S. consumers in the face of high borrowing costs and sticky inflation. The strength in personal outlays suggests that…
Macro On Wednesday, the Federal Reserve approved a 0.25 percentage point cut to its benchmark rate, lowering the federal funds range to 4.00%–4.25%, its first reduction in nine months. The move was widely anticipated and reflects growing concern over labour…
Macro Global politics and markets were once again shaped by rising geopolitical frictions and fiscal concerns. In Beijing, President Xi Jinping used a high-profile regional summit to advance his vision for a new, multipolar world order. Flanked by Russia’s Vladimir…
Macro The key driver for markets this week was the increase in the PCE index, the Federal Reserve’s preferred measure of inflation. U.S. consumer spending rose in July at its fastest pace in four months, supported by solid income growth…
Macro Fed Chair Jerome Powell signalled a potential rate cut in September during his Jackson Hole remarks, triggering a strong rally in equities, bonds, and even Bitcoin. The key key sentence in Fed Chair Powell’s Jackson Hole speech: “with policy…
