Our Views

Overnight Market Brief – 9 December 2024

Powell downplayed any likelihood of conflict with the incoming Trump administration in his speech click here to download the PDF file  ...

Overnight Market Brief – 2 December 2024

Trump’s tariff plans on imports from Canada and Mexico risks pushing US gasoline prices higher click here to download the PDF file  ...

Overnight Market Brief – 25 November 2024

Trump’s nomination of Scott Bessent for Treasury Secretary was perceived to bring stability into the US economy, sending equities and Treasuries up click here to download the PDF file  ...

Overnight Market Brief – 18 November 2024

US headline CPI and core CPI for October Month-over-Month increased 02% and 03% respectively, meeting estimates click here to download the PDF file  ...

Overnight Market Brief – 5 November 2024

US non-farm payrolls rose by 12,000 in October while the unemployment rate held at 41%, distorted by severe hurricanes and a major strike click here to download the PDF file  ...

Overnight Market Brief – 14 October 2024

Chinese Finance Minister Lan Fo’an pledged new measures to support the property sector and signaled greater government borrowing However, the lack of details was perceived as underwhelming click here to download the PDF file  ...

Quarterly Investment Outlook – Q1 2024

Patience has often been said to be a virtue In today’s markets, patience has the added benefit of making time work in your favor due to high interest rates Risk free rates are at levels unseen in a decade The more time that goes by, the more intere...

Quarterly Investment Outlook – Q3 2023

The last quarter saw markets delivering yet another period of pain to investors A surge in risky assets saw many market participants being caught out by extremely bearish positioning and rush to add to risk assets, only to see equities falling by ~7%...

Quarterly Investment Outlook – Q2 2023

Investors who were rushing out of equities to stay in cash came rushing back in as risk assets rallied against consensus expectations Bank failures in the US were contained by regulators and the US debt ceiling eventually found bipartisan consensus H...

Quarterly Investment Outlook – Q1 2023

Monetary policy is a very blunt tool and may be ill-equipped to deal with all the intricacies of something as large and complex as the US economy By raising interest rates aggressively to combat inflation, the Federal Reserve runs a high risk of brea...

Quarterly Investment Outlook – Q4 2022

2022 was a historic year, where numerous stocks once held to be darlings fell over 75% Worse, assets which were once thought to be safe also faced historic drawdowns as fixed income had its worst year in well over multiple decades As we go into 2023,...

Quarterly Investment Outlook – Q3 2022

The Fed Chair’s acknowledgement that economic pain may be required to bring down inflation stands in marked contrast to prior rosy projections of a soft landing While inflation may have indeed peaked, we remind investors that peak inflation is not ...