The Trump restoration was resonating across financial markets on Wednesday with the prospect that his second administration will almost certainly bolster economic conditions should a round of tax cuts occur next year. … READ MORE >
Economics
The increased attractiveness of corporate bonds as the Fed cuts rates
We expect the Federal Reserve to cut its policy rate by 25 basis points at its meeting on Thursday to a range between 4.5% and 4.75%. … READ MORE >
Distortions in the October U.S. jobs report mask underlying strength
We would urge investors, firm managers and policymakers not to overinterpret the temporary factors driving the top-line decline and to expect a similar dynamic in the November jobs estimate. … READ MORE >
Strong gains in Income and spending boost economic growth in September
American households are well positioned to keep spending at a 3% to 3.5% pace as inflation moves back to 2% and real wages continue to increase. … READ MORE >
American economic outperformance continues as GDP expands by 2.8%
The U.S. economy continues to show strength, with full employment, price stability and strong productivity gains. … READ MORE >
Consumer confidence strengthens despite cooling labor demand
Job openings fell to 7.4 million, the fewest since 2021, from 7.86 million, while hirings rose to 5.56 million from 5.4 million according to the Bureau of Labor Statistics. … READ MORE >
Financial conditions improve in Canada and U.S., setting stage for growth
Financial conditions continue to improve both in Canada as well as the United States, signaling stability in markets and setting the groundwork for economic growth. … READ MORE >
A nascent dollar bloc: Re-globalization amid U.S.-Chinese tensions
We see a nascent dollar trading bloc forming out of need to protect essential industries. … READ MORE >
Business spending on equipment falls in September, but orders pick up
Durable goods orders fell in September for the second month in a row, driven largely by drops in Boeing orders. … READ MORE >
October jobs report will be distorted by hurricane and strike
We expect a top-line gain in total employment of roughly 120,000 jobs, which is approximately 80,000 below what our model would otherwise imply. … READ MORE >