https://gavekal.com/feeds.cfm Gavekal en-us Wed, 10 Jun 2026 12:39:36 +0800 Wed, 10 Jun 2026 12:39:36 +0800 https://gavekal.com/feeds.cfm support@gavekal.com (Gavekal) support@gavekal.com (Gavekal) http://web.gavekal.com/node/26676/view Broad US consumption data remain solid, but signs of strain are emerging at the lower end of the spending spectrum, where companies serving that segment are underperforming or failing. In this video interview, Kai Xian examines the dynamics of this two-speed US consumption environment, rooted in policy choices, and reviews mitigation efforts aimed at lower-income households. He concludes that consumption is becoming an increasingly fragile pillar of the US economy.... Americas,Consumption,Equities,Tan Kai Xian,United States,Video, Thu, 13 Nov 2025 00:00:00 +0800 http://web.gavekal.com/node/26676/view http://web.gavekal.com/node/26676/view#article-comment http://web.gavekal.com/node/26471/view The failures in September of US auto lender Tricolor and US auto parts maker First Brands are still causing aftershocks for the financial system. The question for macro investors is whether these two corporate collapses are the foreshocks of a greater seismic upheaval yet to come for the US economy.... Americas,Consumption,Fixed Income,Tan Kai Xian,The Daily,United States, Wed, 08 Oct 2025 00:00:00 +0800 http://web.gavekal.com/node/26471/view http://web.gavekal.com/node/26471/view#article-comment http://web.gavekal.com/node/23758/view Back in November, we highlighted four reasons to expect US consumer demand to remain robust: (i) a tight labor market and growing aggregate wages; (ii) a positive wealth effect from higher asset prices; (iii) growing consumer credit, and (iv) lower oil prices. Let's update each point in turn.... Americas,Consumption,Equities,Fixed Income,Tan Kai Xian,The Daily,United States,Will Denyer, Mon, 06 May 2024 00:00:00 +0800 http://web.gavekal.com/node/23758/view http://web.gavekal.com/node/23758/view#article-comment http://web.gavekal.com/node/23048/view US consumption is off to a strong start this holiday season. Online sales have been especially strong this Black Friday and Cyber Monday, but brick-and-mortar retail sales didn't do too badly either last week. What factors explain this strong consumption, and will it persist?... Americas,Consumption,Equities,The Daily,United States,Will Denyer, Wed, 29 Nov 2023 00:00:00 +0800 http://web.gavekal.com/node/23048/view http://web.gavekal.com/node/23048/view#article-comment http://web.gavekal.com/node/22476/view Spain is set for a period of protracted political wrangling following Sunday's inconclusive election. But such interludes of political uncertainty are nothing new in Spain. What will matter far more for investors in the eurozone's fourth largest economy will be how the positive and negative cyclical forces currently at work in the economy play out over the coming months.... Cedric Gemehl,Consumption,Economy,Europe,Fixed Income,Politics,Politics,Politics,Spain,The Daily, Tue, 25 Jul 2023 00:00:00 +0800 http://web.gavekal.com/node/22476/view http://web.gavekal.com/node/22476/view#article-comment http://web.gavekal.com/node/22071/view US GDP grew at an annualized 1.1% in the first quarter of 2023, down from 2.6% in 4Q22 and slower than the expected 2.0%. Is weak investment growth a harbinger of weaker consumption, or will consumption stay strong and eventually encourage a rebound in investment?... Americas,Consumption,Equities,Fixed Income,The Daily,United States,Will Denyer, Fri, 28 Apr 2023 00:00:00 +0800 http://web.gavekal.com/node/22071/view http://web.gavekal.com/node/22071/view#article-comment