Investors often ask us which industries the Chinese government is prioritizing for expansion. The assumption is that investing in sectors hand-picked authorities will produce solid investment returns. Yet, this assumption has not held over the past decade....
We will only move to a fully defensive stance if the “whites of the recession’s eyes” appear. So far, they have not. We will be increasingly looking to our MacroQuant model for guidance on when the next turning point in markets may come....
Crypto adoption is set to accelerate following the passage of the GENIUS Act, which establishes a regulatory framework for digital assets. Companies across the crypto ecosystem are well-positioned to benefit from digital asset growth and price appreciation. Crypto equities are a new strategic alloca...
We apply a systematic approach to investing based on economic, inflation, and monetary policy surprises to the foreign exchange market. The signals from this framework are broadly consistent with the tactical views of our FX strategists, which anticipate a pause in the USD’s decline and a partial re...
Although we think the economy is weaker than investors realize, it has remained resilient and we will not fight the tape forever. If clear signs of a recession do not emerge over the next six weeks, we will drop our defensive recommendations....
This week our three screeners identify: Equity plays on US banks, stocks that benefit from heightened US fiscal uncertainty, and a global Value and Technical basket of stocks....
Consensus sees one final ECB cut; we argue two are coming as deflationary forces are building in Europe. Dive in for the trade map: falling Bund yields, tighter peripheral spreads, and a euro primed for a 2026 rebound....
Artificial intelligence will destabilize domestic politics and international security. States will try to adopt more creative fiscal policy, including by raising taxes on Big Tech....
European euphoria is overdone. The most exceptional asset class in Europe is Infrastructure, but granular opportunities span other asset classes by sector and country. Venture Capital is a North America and Asia-Pacific play. We downgrade Private Credit, and upgrade Global Buyouts. Time to take prof...
