Market sentiment towards the Chinese currency has shifted significantly
Michael discusses how short covering, rather than real money, has driven the fastest recovery on record following a bear market, and looks ahead at slowing earnings growth.
Trade policy is of first-order importance in a more connected world, and markets have been reacting nervously to U.S. trade disputes.
On July 31st, The Federal Reserve (Fed) cut rates for the first time since 2008. In the immediate aftermath of this cut, the U.S. Dollar strengthened.
A brief note on the latest price action in equity markets, how business cycles end, and how markets are being left to fend for themselves without central bank intervention for the first time in 20 years.
2011 estimates and the thinking behind the numbers. Executive summary
Expected returns and correlations of asset classes.
The U.S. economy should slow but not stall in 2019 due to fading fiscal stimulus, higher interest rates and a lack of workers. Even as unemployment falls further, inflation should be relatively contained.
A slowdown is coming sooner rather than later. Investor should remain cautiously optimistic to environment growth, with a bias on quality and eye on duration.
Each quarter, in the midst of earnings season, we write a market bulletin focused on U.S. corporate profitability.