Is earnings momentum peaking?
An expected fall in global manufacturing PMI new orders suggests a moderation, at least, in current earnings strength. Continue reading
Policy perversity
The policy biases of the Fed, ECB and Bank of England are opposite to those warranted by economic / monetary conditions. Continue reading
Global money update: inflation squeeze
Global six-month real narrow money growth is slowing from a January-February peak, suggesting a loss of economic momentum during H2. Continue reading