Listen to a short summary of this report.     Executive Summary The Dollar Likes Volatility  Uncertainty about Fed policy has supercharged volatility in bond markets, and correspondingly, USD demand (Feature…

Special Report

Executive Summary Favor ASEAN And The Philippines  Southeast Asia is suffering from fading macro and geopolitical tailwinds but there are still investment opportunities on a relative basis. The peace dividend, globalization…

Special Report

Executive Summary Biden’s Support Among Women  Investors should assume that the Supreme Court will overturn Roe v. Wade even though the odds are probably overrated. A mere modification of Roe will not have any significant…

Listen to a short summary of this report.       Executive Summary Global Equities Are More Attractively Valued After The Recent Sell-Off  We tactically downgraded global equities in late February but see…

Special Report

Executive Summary The US Still Dominates Economic Output  While the Ukraine war has been positive for the greenback, there is a slow tectonic shift away from the dollar as China rethinks holding concentrated foreign currency…

Special Report

Executive Summary Europe's Largest Import Bill: Oil  The EU crossed the Rubicon this week, proposing to eliminate Russian oil imports within six months. The speed of putting the sanctions into effect, and Russia’s…

Executive Summary Stocks Not Linked To Presidential Approval    President Kennedy’s performance in 1962 would be ideal for the Biden administration in this year’s midterm elections – but today the…

Executive Summary German GeoRisk Indicator  Russia and Germany have begun cutting off each other’s energy in a major escalation of strategic tensions. The odds of Finland and Sweden joining NATO have shot up. A halt…

Executive Summary Allies Still Have Faith In USD  The Biden administration’s use of sanctions has prompted market speculation about the longevity of the dollar. Yet the DXY has hit 100 and could break out, in the…