Precious metals, corporate credit, and tech stocks are all showing signs of late-cycle euphoria. We identify various trigger points that investors should monitor to turn more bearish....
Beijing’s quiet pivot toward RMB strength and a deep valuation discount set the stage for a multi-year appreciation. Our latest FX Insight explores why we see the CNY rising to 6.5–6.8 versus the USD over the next year....
Japan's first woman prime minister, Sanae Takaichi, will underperform on economic stimulus but outperform on defense spending and strategic diplomacy. Stay long Japanese yen....
Reduce risk exposure in the very near term as President Trump's ceasefire effort falters, Russia tensions spike, and US-China trade prospects suffer....
The Fed is poised to deliver a 25-basis-point rate cut this month, but a follow-up rate cut in December will depend on how the divergence between strong consumer spending and weak employment growth is resolved....
Investors should not count on buoyant growth in the ASEAN and Indian economies because of manufacturing relocation away from China in the next couple of years....
The most significant divide in the stock market and the economy is the gap between companies positioned to benefit from the AI boom and companies without a link to it. The former are surging while many of the latter are struggling....
Strong results and constructive commentary from the US’s largest banks are encouraging: Consumers remain in solid shape, and the macro backdrop continues to favor equities. The outlook for the largest banks is positive, and they are unlikely to be affected by isolated credit events....
