Markets
Into Year End, It’s All About Policy Makers
With an energy crisis, elections, geopolitical risks and ramping inflation, policy makers will have plenty of tough decisions to make into year-end.
Markets in 2H: Earnings Downgrades and Margin Compression
We look back at what markets did in the first half of the year and highlight the main themes for the second half.
Market Sell-Off: What's Next?
Quantitative Tightening, Market Sell-Off, and the Corporate Put is Back
Markets in Q1: Inflation, Energy, and De-Globalization
We dive into the main themes coming out of Q1'22.
Higher Rates, Peak Margins, and How We're Allocating
Peak profit margins and hawkish environment increase the downside risk of the liquidity trade, which still has a lot more to go.
Forget China, look into Energy, Crypto, and Value
We're not interested in buying the China Tech dip - there's plenty of opportunities elsewhere.
Global Risks: Energy and China
The energy crisis is likely to get worse, and China risks will likely be contained.
Infinite Inflows, China’s Tech Crackdown, and Increased OPEC Pricing Power
Record-high equity inflows promise a continued liquidity bonanza for markets, while the oil supply and demand imbalance is likely to grow more acute than what consensus expects.
Tapering, The Return of Growth, and Oil's 7-Years High
Tapering is not yet an issue, growth is timidly coming back and oil is near 7 years high.
Healthier Positioning, Green Politics, and Carbon Allowances
Positioning in the market has become less extreme, especially ahead of what has historically been a lower return period for the stock market.
Gold Miners and Energy Alternatives
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 Acceleration of Retail Participation
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%.