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Low-income core consumer pressures 2Q comp, see continued risks; Underperform
F2Q adj. EPS $1.70 & comps +0.5% below estsDollar General’s (DG) 2Q adj. EPS of $1.70 was below our $1.84 est. and the Street at
海外研报
2024年09月02日
Active managers’ holdings update What are your neighbors doing?
2Q trades: LOs bought Comm. Svcs., sold cyclicalsOver the last quarter, long-only funds (LOs) increased their relative weight in
海外研报
2024年09月02日
US equities: Options to own for next week’s macro data dump
Glut of data: The Sep 6th straddle for SPY is worth ~1.5%, capturing theManufacturing ISM, Services ISM, NFP, JOLTS and Fed Beige Book prints. This
海外研报
2024年09月02日
Sunday Tea with BNPP: Bracing for impact
We are cognisant of the risks of higher yields and flatter curves temporarily if US data is stronger this week (as we expect it to be).
海外研报
2024年09月02日
Australia: CoreLogic House Prices: +0.5% increase in August
Bottom line: Australian capital-city dwelling prices increased +0.5%mom(+7.1%yoy) in August, with ongoing firm growth across Perth (+2.0%mom) and
海外研报
2024年09月02日
All eyes turn to the jobs report
The August employment report will be in focus, which we see as the key remaining report ahead of the September FOMC. Also on deck are JOLTS
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2024年09月02日
JULY INCOME DATA UNDERSCORE FED'S DILEMMA -- MARKET OVERPLAYING PACE OF CUTS
Somehow or another, despite 800,000 fewer on the payrolls than originally reported, the economy starts Q2 on adecided upbeat. The July personal income data do, however, point up a more important issue for the Fed to balance
海外研报
2024年09月02日
What happened to the term premium?
The term premium is one of the most important parameters for investment andfunding decisions, but nobody knows its size. Our revised approach reduces
海外研报
2024年08月31日
UK Weekly Kickstart Summer data-only update
Investors should consider this report as only a single factor in making their investment decision. For Reg AC certification and other important disclosures,
海外研报
2024年08月31日
we prefer Europe and the UK despite Japan structurally getting better
For EAFE or US international portfolios, Japan versus Europe is the most important regional decision. We downgrade Japan to underweight in local-currency terms
海外研报
2024年08月31日
