Earnings reports and commentary from major retailers confirm that the consumer continues to lose momentum, while signs that the labor market continues to cool suggest that household income growth is poised to slow. We reiterate our downbeat fundamental take and our defensive asset allocation recomme...
We were far too bearish on the US economy in 2024 – but the global economy remained sluggish and we got the critical geopolitical calls right. We predicted the Republican sweep in the US and the outbreak of direct military hostilities between Israel and Iran. We anticipated the escalation in Ukraine...
Today’s Special Report introduces a framework for country allocations in a fixed income portfolio based on relative monetary policy surprises. We present two approaches on how to identify opportunities in the current environment and update our country recommendations based on those....
While some of these headwinds facing G&C are abating or at least are now priced in, it is hard to see the industry rebounding over the short investment horizon unless monetary conditions ease. However, long-term trends supporting a transition to renewable energy are intact – strong demand for energy...
