海外研报

BoJ: why this time is different

We calculate z-scores (using 1990-2019 as our sample) for four key measures ofunderlying inflation: (1) Shunto (wages), (2) core-core CPl adjusted for changes inconsumption taxes, and (3-4) price expectations series from surveys that haveproved to

Brazil: Consumers help lift 2024 growth estimate, but 2025 outlook has weakened

Recent industrial production and retail sales data point to strong consumptionfueled growth in 2Q24, with a carryover effect leading us to upgrade our 3Q24

US MARKET INTELLIGENCE:AFTERNOON BRIEFING

SPX +1.7%, NDX +2.5%,RTY +1.6%.WTl -200bps at $78.46, NatGas -114bps to $2.16, UKNatGas -82bps to 0.9594, Gold -26bps to$2,466, Silver -45bps to $27.85, 10Y @ 3.847%, andVIX @ 18.12.

Liquidity strategy: Maintain your lifestyle

The Liquidity. Longevity. Legacy. framework helpsinvestors plan and optimally invest their wealth so