For the last two years, the world has been living through a global pandemic. We started wearing masks, navigated our lives in between lockdowns, and became proficient in rapid...

FOCUS: Markets are nervous and repricing the electoral odds in a tightening (see chart) French presidential election that goes to 1st round polls on Sunday. The stock market has...

A LOW BAR: Global first quarter earnings season unofficially starts next Wednesday, April 13, with JPM leading US bank reports. Consensus has set a low bar for S&P 500,...

TOUGH Q1: There were few places to hide in Q1, with commodities the only asset class in the green. Nevertheless, equities and crypto have seen a sharp rebound out of ‘correction’...

WILDERNESS: LatAm spent a decade in the investment wilderness (see chart), shrinking to only 8% of emerging markets and under 1% of global equities. But it is by far the world’s...

CASE FOR BANKS: Sticky inflation and higher long term bond yields are relative positives for financials, the largest Value sector, and no.2 performer this year. They benefit from...

BOND TANTRUM: The US 10-year bond yield, which helps price everything from mortgage rates to company bond issues, has soared to 2.4% given the more hawkish Fed rhetoric. This is...

HERE TO STAY: Latest data from the US Federal Reserve shows US household’s equity ownership levels holding at record levels (see chart). This is 29% of total assets and near...

WORLDS’ BREADBASKET: Ukraine crisis disruption to cereal and oilseed markets could be larger, more serious, and lasting than better-known energy exposures. Wheat is 20% of total...

EQUITY ‘PUT’: Chinese stocks surged as authorities came to the rescue of its beleaguered equity markets. This ‘equity put’ saw Vice premier Liu’ all-in attempt to try clear up all...