January US CPI cooled slightly, with leading indicators pointing to further disinflation later this year. Headline inflation fell to 2.4% y/y in January from 2.7%. Similarly, core also cooled to 2.5% ...

The recent Bitcoin selloff is lacking a clear macro driver. Our Chart Of The Week comes from Artem Sakhbiev, from our FX strategy team. Bitcoin is down roughly 45% since its October peak, erasing all ...

One of our key views is that 2026 is unlikely to deliver a repeat of the explosive equity gains seen in 2025, and instead, the rally will broaden and become more inclusive. Last year, performance was ...

The annual benchmark payrolls revisions revealed that the labor market has been weaker for longer than initially reported. The probability that a crack in consumption is just around the corner is much ...

China is providing limited stimulus, promoting tech and trade, and maintaining a tariff truce with the US in 2026. Structural flaws and great power struggle continue to cast dark clouds over the long ...

Our US equity strategists expect another year of gains for the S&P 500 in 2026, with returns capped by revenue growth as the bull market matures. The US economy is slowing but not contracting, ...

The US and Japan are in the same predicament: save the bond market or save the stock market? How this predicament will be resolved is the biggest global macro call of 2026-27. Plus: a new tactical ...

Years Of Deep Freeze Following A Short Roller-Coaster RideThe US housing sector has been whipsawed over the past six years by the pandemic and wild swings in interest rates. Initially, the decline in ...

The US labor market remains weak but stable, leaving both labor conditions and US rates at a pivotal point. Given the partial government shutdown, Friday’s January employment report has been postponed ...

Several indicators of US economic activity improved significantly during the past month. January’s ISM Manufacturing PMI moved above 50 for the first time since February 2025. Perhaps more notably, we ...

Sell America? No. The GeoMacro trade is Buy RoW! Left-tail risks are easing because the US isn’t collapsing. That argues for less enthusiasm for safe havens, not selling US assets. The S&P 500 can ...

South Africa’s commodity boost is fading, but its cyclical headwinds remain. As growth weakens and capital inflows dry up, the rand looks increasingly vulnerable to a reversal.