FinTech, Historic Equity Flows, OPEC Spare Capacity, Market Valuations, and Available Cropland
We find the increased focus on corporate taxes to be a fair and necessary discussion to have, especially given the number of loopholes that corporates are currently benefiting from
The success or failure of this new investment framework will highly depend on data availability and accuracy, something that needs to significantly improve before sustainable finance can really become mainstream
When the TIPS Yield Curve inverts, things tend to happen in a big way
The reflation trade is still alive, gold miners may provide an outsized opportunity, and the low carbon emission economy is becoming an important long-term economic driver of prices
The long-term dollar shortage trend is the current monetary state we live in, where global economic growth is outpacing the supply of the global reserve currency
We need to approach this space with an open mind and without being overly tribalistic
Short-term vs long-term inflation expectations are telling two different stories about the fundamental strength of the economy
Low rates are Not Inflationary, Commercial Bank Credit, Historical Inflation Subcomponents, Bridgewater’s Outlook, Steepening Yield Curve, and the US Debt Forecast
Asset price performance has been quite solid across the board and the Yield Curve has continued its steepening, with rates in the long end getting closer to 2%
CPI vs. Real Inflation, Chile’s USD Situation, Operation Warp Speed, Oil Rigs & Productivity, Debts, Deficits & the Fed Balance Sheet, and Decomposition Rates of Marine Debris
The reflation narrative has become the overwhelming consensus view for 2021. This implies a weaker dollar, higher bond yields, and outperformance from emerging markets and commodities