Our Chart Of The Week comes from Chester Ntonifor, Chief Strategist for our Foreign Exchange and Global Fixed Income Strategy services. A big macro trade over the last few years has been to shun US Treasuries, in favor of…
Our Emerging Markets and Commodities strategists explored the dislocations in metals markets as tariffs fears led to physical flows to the US and price spikes. US import tariffs on gold, silver, platinum, and copper are…
Expectations of US import tariffs drove the latest upleg in the prices of precious and industrial metals. However, there are no significant economic or political incentives for the US to impose import tariffs on these metals.…
In lieu of all the geopolitical and economic news in media, this report looks at where next the dollar is likely to trend in the next one-to-three months. Our view is down, though on a cyclical horizon (six-to-twelve months), we…
Our European strategists look at European equities after they garnered attention due to their low valuations. European equities are attracting interest primarily due to low valuations rather than strong growth expectations. Key…
As a push for Russia-Ukraine peace talks emerges, energy prices are easing. Reduced geopolitical risk and the potential lifting of sanctions on Russia would be a headwind for oil and European natural gas prices. Should investors bet…
Europe is about to become President Trump’s next target. The good news: a US/EU trade war will be short as common ground to achieve a deal exists. The bad news: European assets remain at the mercy of heightened uncertainty. How…
Treasury Secretary Scott Bessent commented that one of the Trump administration’s priority was lowering 10-year bond yields. Bessent’s 3/3/3 plan, boosting growth to 3% from deregulation, increasing US oil production by 3 mmb/d, and…
While the US dollar has outperformed every single DM currency in the past few months, the only monetary asset it did not outperform is gold. The greenback is up between 5-10% against DM currencies since September of last year, but…
The latest version of the MacroQuant model suggests that the bull market in US stocks is winding down. The model expects Treasury yields to fall later this year but is not ready to go long duration just yet.