US

MARKET UPDATE 26.10.2023
Weekly Market Update – The impact of the rise in US bond yields on Asia
The rise in yields of US Treasuries, which began in August, saw the 10-year yield reach 5.0% this week. The...

Talking Heads – Standing tall: US small caps
With market expectations for a US recession being ‘kicked down the road’, the outlook for US small capitalisation stocks has...

Fixed Income Outlook – Slowdown ahead
US Treasury yields have now reached levels that we believe offer attractive value given that the Federal Open Market Committee...

Chart of the Week - US yield curve disinverts as markets reprice bond risk
US 10-year Treasury yields rose as high as 4.88% in the first week of October, their highest level since 2007...

Mortgage-backed securities – Headwinds on the decline
US mortgage-backed securities look attractive now relative to government bonds. Headwinds in the form of, for example, rising central bank...

The case for US small-cap stocks
At the start of the final quarter of 2023, many small-cap stocks are trading at a significant discount to their...

Medicare drug price negotiations – Not as simple as the headlines would imply
Drug pricing reforms in the US will likely constrain growth for biopharmaceutical manufacturers, placing even greater importance on a company’s...

MARKET UPDATE 14.09.2023
Weekly Market Update – Divergence is the theme
Divergence is a key theme in global markets now, with the manufacturing side of many economies much weaker than the...

Chart of the Week - What's keeping the US economy afloat?
The challenges faced by the European and US economies have been broadly similar: pandemic-related disruptions, higher inflation, and large increases...

MARKET UPDATE 31.08.2023
Weekly Market Update – Back to school for markets
In the last week of August, economic data has mostly surprised to the downside, resulting in a fall in interest...

MARKET UPDATE 24.08.2023
Weekly Market Update – Paying the piper
Massive US government fiscal stimulus has supported household consumption and business investment, but at the cost of higher interest rates....

MARKET UPDATE 17.08.2023
Weekly Market Update – A bull in a ‘China shop’
Gains in equity markets this year reflect an outlook where economies continue to grow despite tight monetary policy, while the...