Publications

Charts of the Week
Charts of the Week

The EU economy’s resilience of the last few months has led to a large build of speculative positioning on the EUR, to a level that has historically implied limited upside.

Monthly Newsletter
Monthly Newsletter

  Climbing the wall of worry In this latest edition of our monthly report update: These are anxious times ; Financial markets are a discounting machine ; Glass half full or half empty? ; Inflation continues to slow down; Stress among US regional banks is damping US economy; The World Equity Index is up by […]

Charts of the Week
Charts of the Week

  In this latest edition of our weekly update: They are not pausing! ; The Fed’s last hike? ; Banks’ woes are not over… ; Credit’s creeping impact on the economy ; Better than expected, but worse than needed… ; Hopes remain high for a shallow earnings pullback ; Tougher months ahead for equities ; […]

Charts of the Week
Charts of the Week

  In this latest edition of our weekly update: Headline inflation; Equity futures; The earnings season is getting underway; Market rally; Business optimism remains low; Chinese economy; and Chinese loan.   Click here to read our weekly financial markets update report.   Disclaimer This document is solely for your information and under no circumstances is […]

Charts of the Week
Charts of the Week

  In this latest edition of our weekly update: Bank deposit rates have lagged the rise in the Fed’s fund rate; US bank deposits ar e experiencing the largest drawdown in 40 years; Pace of deposit withdrawals forcing US banks to sell down a portion of their assets Silicon Valley Bank and Silvergate Bank were […]

Charts of the Week
Charts of the Week

  In this latest edition of our weekly update: The US PCE price index; Major upward revision in hiking expectations; Mortgage rates on the rise again; Higher rates effects; Some bright spots in China; and Chinese (and Asian) equities remain attractive.   Click here to read our weekly financial markets update report.   Disclaimer This […]

Charts of the Week
Charts of the Week

  In this latest edition of our weekly update: There is nothing like rising prices to change sentiment. With the S&P500; Outperformance of the worst performing sectors of 2022… ; Shift in narrative; Better economic data has pushed expections; Difficulties for equities to keep rallying… ; Complacency is appearing! ; The approaching debt ceiling;   […]

Weekly Investment Strategy
Weekly Investment Strategy

“Super-groundhog” is concerned In this latest edition of our weekly investment strategy update: A complementary source of concern; Currencies. Awakening of China; Fixed income. Tightening cycles have almost reached their zeniths; Equities. A hot week; and Oil. Why are prices falling.   Click here to read our weekly financial markets update report.   Disclaimer This document is […]

Monthly Investment Review
Monthly Investment Review

Global vision LT macro regime. Uneven and volatile economic cycles Imbalances, debt, sticky inflation, and geopolitics result in elevated cyclicality in economic cycles. We expect a US 10-year yield come back towards 3%. Tight financial conditions (FC) in the West, unlike China Contraction of global liquidity led by US (QT), continues. China departs with more […]

Weekly Investment Strategy
Weekly Investment Strategy

One point does not make a trend In this latest edition of our weekly investment strategy update: Off the peak; Broad based inflation slowdown; Reasons to be hopeful; Currencies. USD downturn gathers pace; Equities. Attacking the resistance; Oil. A new world; and Equities. Western defence, gap between the need for rearmament and production.   Click here to […]