Inching towards a new (world?) order
Like many based in the Southern Hemisphere, I have spent too many hours since January 21 not sleeping and keeping
IN THE EYE OF THE (expected) STORM
* You are all very well aware of the volatility of the last weeks and days. * There are plenty of statistics
RINGING THE BELL
You know my views on the disconnect between financial asset pricing based on the crowd's recency bias of
Generational step change?!
This note covers the fast-moving, wide-ranging, and wild scenarios at the intersection of macro, geopolitical, and market movements.
INSTRUMENTS PANEL: THEMES
“Make everything as simple as possible but no simpler” Albert Einstein “Simple can be harder than complex.” Steve Jobs One
Part-II
Financial assets are fundamentally priced relative to real interest rates. But we don’t confuse that with investors ignoring such
Change can be painful
Almost half of Americans will wake up disappointed and many angry with their new President. Politically, the time for economic
!["Reading [data releases] without reflecting is like eating without digesting"](https://images.unsplash.com/photo-1535401325524-b2a6728f0573?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=M3wxMTc3M3wwfDF8c2VhcmNofDQzfHxjb250ZW1wbGF0ZXxlbnwwfHx8fDE3MjgyNzI0MDN8MA&ixlib=rb-4.0.3&q=80&w=30)
"Reading [data releases] without reflecting is like eating without digesting"
The market rallied on the latest monthly US job data released on Friday. This note aims to put into context
Second-third-fourth order effects.
Listening or reading anything the legendary Dr Lacy Hunt says and writes reminds me of opening an encyclopaedia of economic
Volatility pre-empts risk, risk pre-empts opportunity.
(Northern) summer trading can be volatile with lower volume but when investors saw the ISM numbers last week, the Japanese