Slippage in September

Sep 28, 2020

7:49 am

• US equities continue to slip from their highs. • Economists cut GDP forecasts as fiscal stimulus wanes – but governments may be forced back into action. • Insider selling by US corporate management shows companies may be unnerved • US financial sector looks by and large strong enough to cope with the economic challenges…

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Communism Outpacing Democracy

Sep 21, 2020

8:00 am

• US political uproar masks a loss of economic momentum allowing Chinese assets to take the lead • The Fed confirms lower for longer …maybe much longer • Better than expect Chinese economic data compares with some disappointments in the US • Don’t get carried away with the outperformance of value over growth in the…

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The Storm before the Calm, or the Calm before the Storm?

Sep 14, 2020

6:32 am

• Brexit negotiations take a turn for the worse – sterling still at near term risk • UK and EU may take it all the way to the wire before agreeing to a compromise • Policymakers in main economic blocs go quiet – but there is still work to be done • High Yield market…

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To Infinity and Beyond

Sep 8, 2020

12:00 am

• Markets are still thinking about the potential impact of near zero interest rates for years to come. • Strategists seen giving up trying to analyse what it implies for asset values. • Difficult to see how the Fed will achieve its long-term goal of inflation without new tools. • Nasdaq sell-off a correction from…

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