The new Fed Chair, Kevin Warsh, brings unconventional views on inflation measurement and has expressed a preference for trimmed measures, at a time when inflation has remained above target for five years.
In the current environment, the Dallas Trimmed PCE exhibits a downward bias following a succession of supply-side shocks since 2020 and was also slow to capture the 2021 inflation surge. A shift in the Fed's preferred inflation gauge could therefore raise credibility concerns.
The S&P 500 has plunged into correction territory shaken by “Trumpeconomics”. Fears, tariffs, austerity and recession talks are back. Bearish sentiment is at its highest since 2022, with GDP forecasts signaling contraction.
Meanwhile, technicals suggest the market is oversold, with the S&P 500 slipping below its 200-day moving average, an event seen only twice since the bull market began in 2022. Is more downside ahead?
Bitcoin has breached the USD 100'000 mark: New regulatory and political landscape confirms investment thesis! Click here to view our latest update: 241210 BCP Crypto Update.pdf
Banque de Commerce et de Placements SA (BCP) is pleased to announce that it has been assigned first-time Baa3/P-3 long-term and short-term deposit ratings by Moody’s, with a Stable Outlook.
