Tomorrow, the University of Michigan’s Consumer Sentiment Survey will give us more information on US consumers’ inflation expectations. The survey respondents’ inflation expectations, as other analysts have pointed out, are highly correlated with gasoline prices, which rose in March by 3.7%. This survey, along with…
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With inflation receding in the US, the Chinese Yuan (CNY) has been depreciating. At peak US inflation, the CNY got down to 6.35, while it has risen to 6.92 in the last year. Inflation getting back to 2% would seem to be consistent with a…
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Yesterday JP Morgan introduced a new model to quantify the last 20 years of Federal Reserve statements and speeches. While we aren’t privy to the details of the AI model, we will just assume that the model properly captures dovish and hawkish language. Based on…
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The Ajinomoto Group makes amino acids used for everything from seasoning food to pharmaceuticals to manufacturing semiconductors. This Tokyo, Japan-based company’s roots go back to 1899, when Dr. Kikunae Ikeda set to work researching amino acids in order to bring Western health standards to Japan…
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With the European Market’s earning season fully upon us, let’s look at expectations for the month ahead. According to our proprietary analytics, the European energy and real estate sectors have experienced the highest level of downward revision to sales of all sectors on both a…
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While Asian financial companies have by no means been safe from the recent banking turmoil scything through other developed economies, regional banks have had a far less punishing month in terms of sales and earnings estimates than their peers in other markets. The financials sector…
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This week as regional banks start reporting earnings we will get a better look at the lasting effects of the bank crisis kicked off by the failure of Silicon Valley Bank last month. Looking at recent earnings forecast revisions, regional banks appear particularly exposed to…
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The Fed’s concern about U.S. banks dominated last month’s FOMC meeting. According to today’s release of the March 21-22 meeting minutes, the Fed was apparently so concerned over banking problems and the potential for an ensuing credit crunch that officials tempered calls for rate hikes,…
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Lost in the Good Friday holiday and the jobs report was the weekly report on bank lending, deposits and securities holdings. Keeping in mind this data is always a week old, it shows the retreat from banks continues. Small banks have now experienced about $250…
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As banks back away from credit creation, we think certain assets could reassert their leadership. In our Quarterly Strategy Report, we analyze the Credit Crunch. Prefer to download this presentation in PDF? Please click here. 1. Summary -The recent banking crisis, with several banks being…
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