Executive Summary Our recommended model bond portfolio outperformed its custom benchmark index by +24bps in Q2/2022, improving the year-to-date outperformance to a solid +72bps. The Q2 outperformance came entirely from the credit side…
Executive Summary Buying a home is now more expensive than renting in many parts of the world. In the US and UK, disappearing homebuyers combined with a flood of home-sellers will weigh on home prices over the next 6-12 months.…
Highlights Chart 1Are Expectations Too Dovish? The dominant market narrative has clearly shifted in the last few days. The primary concern among investors used to be that the Fed had fallen behind the curve on inflation. Now…
Listen to a short summary of this report. Executive Summary A Tremendous Inflow Into US Government Bonds Multiple frameworks exist for managing currencies. These include forecasting growth…
Executive Summary China: GeoRisk Indicator A new equilibrium between NATO, which now includes Sweden and Finland, and Russia needs to be reestablished before geopolitical risks in Europe subside. Russia aims to inflict a…
In this Strategy Outlook, we present the major investment themes and views we see playing out for the rest of the year and beyond.
Executive Summary Long-Term Contracts Needed To Increase LNG Supply The EU will have to reverse course and execute long-term contracts with natural gas producers, LNG shippers and pipeline operators to incentivize…
Executive Summary Unhappy Households Make Unhappy Voters US polarization while down is still near historic peaks. Negative sentiments are forming among households and businesses due to inflation and high gas price, which…
Executive Summary An Optimal Control Policy We could see some modest near-term downside in Treasury yields as inflation rolls over during the next few months, but we caution against turning overly bullish on bonds even if…