海外研报

Robust headline growth with underlying weakness

Indonesia’s 2Q24 real GDP growth printed at 5.05% yoy, a tad higher than our expectation of 5.04% and lower than the 5.1% recorded for 1Q24. While a weak deflator

How Market Moves Could Affect the Economy and the Fed

Since the July employment report last Friday, the equity market has sold offabout 5% and the 10-year Treasury rate has fallen 21bp. Our financial conditions

Earnings-day volatility at 14-year highs

We analyzed the earnings day moves of the 362 S&P 500 stocks that havereported so far this earnings season and compared them with the past 18

Eye on Freight: Tracking Trucker Employment

Long haul trucking gained 1,000 drivers in June, below their pre-COVIDseasonal sequential increase of ~3,400 drivers (we note that long haul data

Industrial Production Declined Further in June

Bottom Line: Industrial production contracted 20.2% yoy in June weaker than the15.0% decline in May. On a sequential basis, industrial production declined 1.5%

Asia-Pacific Portfolio Strategy: Asian equity market daily update

The MXAPJ Index dropped 0.4% today. Indonesia and Thailand marketsoutperformed, while Taiwan and Korea markets underperformed. Within MXAPJ

2Q24 Earnings Update: Return of the Macro

2Q24 earnings has been mostly good news but not enough toshrug off deteriorating macro; breadth of EPS beats and Y/Y

Global Macro Thoughts And just like that, the narrative changes completely

Where noted in the source notes, the views expressed within this report are taken from previously published research. For further detail, including important

Barkin Says Fed Has 'Time' to Assess EconomyDetermine Response

Federal Reserve Bank of Richmond President Tom Barkin said the centralbank has time to assess whether the US economy is normalizing orwhether it's softening in a way that would