The key quartet: US income, confidence, net worth and consumption
In US Consumer – From King to Prince (8 October 2019), we argued that “the recent fall in US consumer confidence, slowdown in income and wage growth and jitters in US equity markets suggest that Personal Consumption Expenditure (PCE) growth remained weak in September and thus slowed materially in Q3” (September data are due on […]
Sovereign Debt: OFZ Rally is a Problem for the Finance Ministry
Despite the new round of anti-Russian sanctions and the increase of global turbulence in the first half of August, the OFZ market remains calm. We believe that it still contains fundamental value as inflation continues to slow down in Russia, which creates ground for further rat… Become a member to read the rest of […]