SURPRISE: US share buyback announcements have tripled versus January last year. This is a welcome surprise and a key support to US equity markets. Stock buybacks have historically...

OWNERSHIP: Company ownership matters and differs a lot around the world. Understanding the incentives and time frames of owners is important. It helps explain key investment...

SLOWER: Global equities had one of their best starts to the year ever, confounding consensus. Both history and the fundamentals remain on your side, but the returns pace will...

LESS-BAD: The latest IMF global economic update validates the less-bad macro outlook. They raised their world GDP growth forecast this year by 0.2% to 2.9%. This change in tone...

GATEWAY: Hong Kong (HKG50) is the world’s fifth largest equity market and has led the recent global equity rally. It’s the gateway to China, which is now reopening its economy,...

LEADING: The world’s most valuable stock reports earnings Thursday. This may set the tone for the market in more ways than one. Apple (AAPL) is a quarter the US IT sector, itself...

BREAK UP: US Department of Justice (DoJ) has brought an antitrust lawsuit against Alphabet’s (GOOGL) adtech business. This follows a similar antitrust suit against its search...

GAUGE: The copper/gold price ratio is a market barometer of risk appetite, recession risk, and long term bond yields. Its predictive power comes from the very different uses of...

CEILING: The US hit its $31.4 trillion debt ceiling last week. There are ‘extraordinary measures’ that buy time until the summer. But the limit needs to be raised for the US to...

REBOUND: Crypto assets are the world's best performers this year, with Bitcoin (BTC) up 25%. Strength is being driven by the less-bad macro environment, with competition from 5%...