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Global Contrasts

Sep 9, 2025

7:55 am

• US labour market weakness supports immediate rate cuts, inflation data in focus. • Japan: Wages surprise positively, reflation narrative constructive for equities • China: Equities cool after strong rally – speculative excess makes regulators cautious • Russia, China, and North Korea aligning makes Ukraine even more a proxy war • Oil weakness easing inflation…

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Macro and Markets

Sep 3, 2025

2:22 am

The world economy entered late summer with a mixed picture. In the United States, consumer spending remained resilient, supported by a firm labour market and decent wage growth, but inflation in services proved stubborn. That being said global economic data was baised to strnger than expected and inflation lower than expected helping asset markets perform….

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Labouring Markets

Sep 2, 2025

9:06 am

• Markets on data watch • Friday’s US employment report key to pricing of rate cuts • An evolving Tech storyUS consumers under pressure • The strategic rise of the Shanghai Cooperation Organisation Last week US markets swung between optimism and caution, as shifting policy expectations and renewed consumer discomfort made investors jittery. It was…

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The Fed in a Hole

Aug 26, 2025

7:04 am

• Jerome Powell appears to concede defeat and opens the door to a rate cut • However another leg of inflation and employment data comes before the next Fed meeting • The Fed must still fear the impact of tariffs • However political pressure looms large • We fear US yield curve steepening • And…

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