SOCCER: The 4-yearly World Cup starts Sunday. Nearly half the world’s population will watch. It’s a $30 billion industry in Europe alone (see chart). And could impact your...

UPSIDE RISKS: The decline in US inflation has turbo-charged markets in hope it continues and allows Fed to halt its dramatic rate hiking cycle in Q1. This is our base case. But...

RALLY: We are now well into our fifth 5%+ bear market rally of this downturn. This is supported by fundamentals, from earnings to the Fed outlook and now inflation. But also by...

ALL EYES: China’s 11.11 ‘Singles Day’ looms. What started as a small anti-Valentines Day has grown into the world’s largest shopping event. With spending over $130 billion it is...

GRIDLOCK: Traditional anti-incumbent sentiment (see chart), President’s low approval rating, and inflation concern drove Democrat losses in the US midterm elections. This...

TEST: We are entering the strongest period of consumer spending of the year, and the most profitable one for retailers. But this year is a big test. Consumers have been spending...

CLIMATE: The 27th two-week UN climate conference starts in Egypt November 6th with low expectations. Policymakers face big distractions from the Ukraine war, energy security...

WINTER DELAYED: November 1st is the typical start of the winter heating season in energy markets. It has been delayed by warmer weather, which may continue if forecasts are to be...

HERE TO STAY: The US dollar (DXY) rally has come off the boil after its 19% surge this year. This performance only lags oil amongst major assets. The greenback has been put on the...

GROUNDHOG DAY: We are seeing a July earnings season repeat. Less-bad-than-feared S&P 500 third quarter profits are a relief to investors. Europe’s are even stronger. This buys...