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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Macro and Markets Review for April 2025

May 2, 2025

10:01 am

The world may have fundamentally shifted following President Trump’s declaration on Freedom Day in early April, marking a pivotal moment in the global economic landscape. With the U.S. taking a more insular approach, globalization appears to be heading into reverse. The reverberations of this policy shift are already being felt across international trade, investment flows, and…

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