We believe highly innovative companies, when accounted for properly, are cheaper than their non-innovative peers in all regions of the world. Below in our Mid-Quarter Update, we map the spheres of innovation in the developed world. Prefer to download this presentation in PDF? Please click here. 1.Summary We...
The US and China are not hitting their economic numbers of late according to the Citi Economic Surprise Index. The economic surprise index in China has recently fallen to 10-month lows. In the US, more economic releases are coming in below expectations than are beating...
It’s become a running theme, at least since last September, but the latest release of CPI numbers from around the world has brought our simple average World CPI proxy to its lowest level since the financial crisis. For the period ending in February, our World...
Our basic proxy for global inflation continues to fall further. The year-over-year change of the CPI of 33 countries (using a simple average) has fallen for eight straight months and now sits at just 1.42%....
The US ISM Manufacturing index surged to a three-year high today at 59 for August. The Markit Manufacturing PMI for the US made a 52-month high as that index rose to 57.9. However, the Markit Global Manufacturing PMI is only moderately above the expansion level...
With the disappointing May industrial production numbers for Italy (-1.2% MoM) and France (-1.7% MoM) out today, we thought we would try and place them in a simple historical and global context. In the charts below, we are looking at industrial production of major developed...
Out of the United States, China, Australia, Germany, Canada, EMU, and Japan, only China has seen their bond yields, both government and corporate, move higher over the past five years. Outside of China , government bond yields have been moving in tandem recently....
On a year-over-year basis, according to the CPB World Trade Monitor, exports among Advanced Economies slipped into slightly negative territory in March. On an aggregate basis, export levels still have not surpassed highs made in 2008. This is contrast to exports from Emerging Economies where they...
Economic data has generally been improving in the 2nd quarter according to the Citi Economic Surprise Index. There are, however, some notable exceptions. The United States briefly broke above the zero line earlier this week before falling back a few points....
