The Great Disconnect

Sep 7, 2020

1:23 pm

In each of our commentary over the last five months, at the cost of sounding like a broken record, we have written about the global disconnect between the real economy and equity markets. The US leads this gulf. It’s hard to reconcile staggering facts such as US government debt is expected to exceed the size…

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Central Bankers – Finally an Admission of Guilt

Aug 31, 2020

9:06 am

• Federal Reserve guides to lower for much longer. • No major central bank minded to raising rates over the medium term. • Credit markets continue to be attractive in the absence of a positive cash yield. • Emerging markets have a huge opportunity to exploit. • Low rates and accommodating monetary policy not necessarily…

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Fuzzy Markets

Aug 24, 2020

9:29 am

• Economic data shows that investors have to keep half an eye on a slowdown. • European and Japanese confidence data fails to convince – services a notable weak point. • Tesla share price gains defy logic, except to Robinhood investors. • China’s asset management and asset markets continue to attract foreign capital. • The…

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Pockets of Inflation

Aug 17, 2020

12:12 pm

• Pockets of inflation causing some stress for investors. • We do not expect a general rise in global inflation but remain watchful. • Central banks in emerging markets still have scope for further rate cuts, although be patient with India. • Good geopolitical news from the Middle East, if only there was more. Pockets…

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