Group Research

Economics

More “dovish” Bank of Japan leads to a sharp JPY depreciation

Foreign exchange markets (FX) of major currency pairs tend to be steady, slow-moving and extremely liquid. This is why it...

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The US economy is slowing rapidly, with recession risks rising

The Covid-19 shock led to a sharp but short-lived downturn, when the US economy staged an epic recovery. In fact,...

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What are US bond markets telling us about the economy?

The US economy is moving fast, with volatile markets reflecting rapid changes and unexpected turnarounds. The Great Pandemic Reflation (2020-21),...

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China’s growth outlook muddied by a plethora of uncertainties

China is a major source of uncertainty for the global growth outlook in 2022 and 2023. After a sudden collapse...

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Headwinds pose downside risks and lead to lower global growth

The dominant global macro theme for the last year and a half has been the economic recovery from the depths...

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