Macroeconomics

Weekly Market Update – How do you walk the central banks' talk?
Government bonds could have paused for breath after their sharp November rally on market expectations of rate cuts early in...

Weekly Market Update – Immaculate disinflation?
Data published this week in the US and eurozone suggests inflation may now be on a steady, downward glide path....

Weekly Market Update – Policy shift: are we there yet?
The pace of inflation in developed markets has slowed, while China’s economic weakness appears to have hit a ‘pain point’...

Investment Outlook 2024 – Stepping into a new reality
In 2024, the fuel that drove economic activity in 2023 will start running low. In the US, excess savings will...

MARKET UPDATE 16.11.2023
Weekly Market Update – A week reinforcing hopes for a soft landing
US macroeconomic data this week fed hopes of a soft landing for the US economy. Most importantly, US consumer price...

MARKET UPDATE 09.11.2023
Weekly Market Update – Slowdown in sight
The hard times equities and bonds went through in October now seem forgotten. November has had a strong start. What...

MARKET UPDATE 19.10.2023
Weekly Market Update – Too strong US data drives rates higher
Ten-year US Treasury bond yields are approaching 5%, surpassing the level reached earlier in October before the outbreak of conflict...

Asset Allocation Video – “Easily skewed towards weaker economic growth”
Market views on the economic outlook have been volatile this year: they have swung from concerns over recession to hopes...

MARKET UPDATE 12.10.2023
Weekly Market Update – It’s tough to see where things are heading
Stronger-than-expected job creation in the US, renewed doubts about inflation, the start of the earnings season, and geopolitical fallout from...

Asset Allocation Monthly – All that glitters is not gold(ilocks)
The market has traded many different macroeconomic narratives in the last 12 months. From a near unanimous belief that a...

MARKET UPDATE 05.10.2023
Weekly Market Update - Surging bond yields – What gives?
Global bond markets continued their sell-off this week, pushing borrowing costs to their highest level in a decade or more....

MARKET UPDATE 28.09.2023
Weekly Market Update – Near-term risk crosscurrents
The US Federal Reserve (Fed) kept the key federal funds rate unchanged on 20 September, but retained an unexpectedly hawkish...