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…
Executive Summary More Chinese Households Intend To Save Than To Invest The Politburo meeting last Friday signaled that China is determined to achieve the 5.5% annual growth target set earlier this year. Policymakers vowed…
Executive Summary Using the real yield on inflation protected bonds as a gauge of the long-term real interest rate is possibly the biggest mistake in finance. The ultra-low real yield on inflation protected bonds captures nothing more…
Executive Summary Economic Growth in Q2 Will Be Much Softer China’s GDP headline growth in Q1 was better than consensus, but it does not capture the full economic impact of ongoing city lockdowns. Other than…
Listen to a short summary of this report. Executive Summary Small Caps Are Looking Attractive Relative To Their Large Cap Peers Adverse supply shocks have pushed down global growth this year…
Executive Summary In this first of a regular series of ‘no holds barred’ conversations with a concerned client we tackle the hot topic of inflation. Month-on-month US core inflation has already peaked, 12-month US core…
Executive Summary We have been constructive-to-bullish on financial markets and the economy since policymakers marshaled the full force of their resources to protect the economy from the pandemic in the spring of 2020. The…
Executive Summary The unemployment rate in the US stands at 3.6%, 0.4 percentage points below the FOMC’s estimate of full employment. Historically, the Fed’s efforts to nudge up the unemployment rate have failed: The US…