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Confirmation of the Deterioration in Consumer Confidence September 25, 2019

By Steven Vannelli, CFA in Economy

In our mid-quarter update, we highlighted the plunge in the University of Michigan’s consumer confidence indicator, suggesting that “good feelings” among consumers were starting to fade. Often surveys offer a leading glimpse into economic activity. A more confident consumer is more likely to make those…

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In our work studying Knowledge Leaders, there’s a common thread: highly innovative companies often exist at the intersection of global trends that demand intensive R&D efforts to solve complex problems the world has never faced before. Coincidence? We don’t think so. The global population is…

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A Deep Dive into Consumer Confidence September 04, 2019

By Steven Vannelli, CFA in Economy

In this mid-quarter special report, we do a deep dive into the University of Michigan survey and discern what it may mean for the vigor of the consumer moving forward, prospects for a recession and consequences for asset allocation. Download the slides here: A Deep…

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German Banks: Cutting Off Nose to Spite Face August 07, 2019

By Steven Vannelli, CFA in Economy

Today Germany’s second largest bank, Commerzbank, reported a fourth straight quarter of falling revenue and projected lower profit for the year, suggesting clients have been impacted by trade tensions. Chief Executive Officer Martin Zielke describes the situation: “Despite all the successes we have made, challenges…

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