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Diverse Views, Common Uncertainty

May 20, 2025

7:47 am

• The US and China agree to come back from the brink, but nothing is for certain • In some quarters the US 10 year is thought to offer tremendous value, but others like us would disagree • The dollar continues to struggle to rebound • US equities rally back to where they started the…

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White Smoke or Fog?

May 14, 2025

12:45 pm

• White smoke in Rome, but fog in the global economy • Macro data reinforces Fed hesitancy in cutting policy rates • Tariff news flow but still a lack of agreements • Japanese equities back on the front foot? • India-Pakistan tensions a reflection of the times? Last week was an eventful one for the…

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Investment Strategy

May 13, 2025

11:14 am

• Recent data indicates that tariffs are beginning to weigh on U.S. economic activity. • Global equities rebounded in late April as the escalation of reciprocal tariffs took a temporary pause. • India’s economic indicators remain mixed, though early April data raises hope of improvement. • Corporate earnings in India in line with muted expectations,…

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Tariff Complacency?

May 7, 2025

9:17 am

• COVID provides a good template for discerning market reaction to trouble on the horizon • A true market reaction will likely have to wait for hard economic data • The fall in oil prices provides some good news • Fed still some meetings from cutting rates • We retain our preference for ex-US equity…

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