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Lombar Odier Comments on FOMC decision


As widely expected, the FOMC decided to hike its policy rate by 25bp to a range of between 2-2.25%. However, the committee removed the reference that monetary policy remains accommodative, signalling that the FOMC believe that the policy rate is getting closer to neutral. Nevertheless, the Statement makes it clear… Read More »

Investor Confidence Declined in September by 5.7 Points to 88.3


State Street Global Exchange today released the results of the State Street Investor Confidence Index® (ICI) for September 2018. The Global Investor Confidence Index decreased to 88.3, down 5.7 points from August’s revised reading of 94.0. Confidence among North American investors further declined, with the North American ICI decreasing from… Read More »

Mamma Mia! Will Sweden Swing to the Right?


Sweden goes to the polls this weekend in a general election – expect another populist uprising. For decades, Sweden has been highlighted by many as a shining example of utopian society. High taxes, but above-average educational and very generous welfare systems combined with a low crime rate, have made Sweden… Read More »

Is the ISM index a bubble?


The ISM index for the manufacturing sector is, in August, at its highest since May 2004. It was then at 61.3 versus 61.4 in May 2004. The reading of this index is puzzling for different reasons: Since 2011, the average growth in the US is 2.2% but the trend was… Read More »

Mirabaud AM: China’s growth to stabilize in second half of the year

Gero Jung -

Though China’s activity data have been slowing in the second quarter, we remain positive on the outlook for the second semester. Outflows have been limited despite the depreciation of the yuan, which should compensate for the implementation of trade tariffs. The 25% duties on an additional $16bn of Chinese exports… Read More »

Surveys point to weak start into Q3


July survey data point to a weaker start into the third quarter, with lower readings in main PMI surveys suggesting softer activity in services, but also in the industrial sector. Though a positive is that house building activity expands more solidly, consumer confidence (according to GfK) fell to below its… Read More »