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...

Commodities on tear. The CRB commodity index is up 52%¹ in the past year (March 2021-March 2022). This makes physical commodities the best performing of all asset classes over...

MORE DISRUPTION: Ukraine crisis commodity supply fears and China covid lockdowns are rekindling supply chain chaos. 50% of neon for semiconductors come from Ukraine. China tech...

PROXIMITY HURTS: The closer currencies to Ukraine the more painful. Poland’ zloty (PLN) 3rd worst performer this year, -7% vs USD, behind Russian ruble (RUB) and Turkish lira...

AMAZON EXCEPTION: Amazon (AMZN) announced a 1:20 stock split, its first since 1999, and investors responded by bidding its stock up 5%. They follow other mega caps like Alphabet...