Sorry, this report is not included in your subscription.
To access this report, please contact our client relations team on: Europe +44 (0) 20 7246 7808, Americas +1 212 367 7644, Asia +1 212 367 7644 or e-mail firstname.lastname@example.org.
Forgotten your username/password
If you wish to change your password you can alter your access details on the “My Settings” page, available inside the client area.
Access to the full report is restricted to clients.
For a free trial of our services, please click here.
Already a client? Please login at the top of this page.
Economics: Accelerating into 2018… then what?
• Positive data favour the Fed’s policy trajectory, not the market’s
• Room to expand production and capex. This is not an inflation cycle
• 2018 growth to be rise to the economy’s potential…
• … supported by benign global growth and the end of the real income squeeze
• Capex to show resilience to Brexit risks, but it will be sub-optimal &b...
Economics: A strong end to the year
• The EA economy ends an exceptionally strong year on a high note
• Labour market slack is easing fast; wage growth to quicken
Markets: A tale of two extraordinary policies &b...
• The nature of China’s debt makes a systemic crisis unlikely
• The crux of whether the debt is a burden lies in the Party-State balance sheet
• The debt-to-GDP ratio will increase further, but there are currently no M...
• 2017 was a year to remember for stocks, 2018 set to be different
• Returns to be in line with EPS growth; central case is low teens
• But fear of missing out makes upside risk scenario (bubble) likely
• Vol at record...
• Funding squeeze into year-end, again
• We buy a 1m EUR/USD put to hedge risk of a sharp dollar rally
• In the medium term EUR-bullish fundamentals should reassert themselves
• After tax success, President Trump may now focus on trade and NAFTA
• Mexico is in his crosshairs; next year’s election also a risk
• MXN is cheap and risks are in the price; sell USD/MXN rallies
• EEM traded through our 45.80 stop on Friday
• We book 11.4% profit
• Economic backdrop still positive for equities; we remain long Russia and Spain