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Inflation

Jul 12, 2021

8:41 am

On 20th April last year, crude futures dropped 306% to settle at negative $37.63 a barrel on the New York Mercantile Exchange. About fourteen months since, crude has moved all the way to $75/bbl. And it is not oil alone, there has been an 80-200% price movement across all industrial as well as agricultural commodities…

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Revenge Spending

Jul 7, 2021

2:17 pm

Global Market Update We have had another quarter of global recovery, teemed with optimism and consumer confidence. ‘Revenge spending’ is moving from being a hypothesis to reality for a larger part of the globe. China was one of the first to open up and we saw the revenge spending trend there last year. All of…

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More of the Same – Unfortunately

Jul 5, 2021

10:35 am

• US nonfarm payroll data shows solid growth and inflation • IMF forecasts a US 10-year yield of 1.9% by year-end • Risks to the upside in oil prices and the energy sector • Global warming still evidently out of control • Our strategy–long equities, short duration, and long value Global macro data continues to…

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Review of June and Q2 Asset Market Returns

Jul 2, 2021

1:06 pm

Review of June asset class returns US equities continued to lead equity market returns in June. US equities +2.2% contributed most of the Global Equity return of 1.7%. Asian markets were largely on the backfoot with a very modest return from Japan (+0.5%) and Asia ex Japan (-0.1%). Ongoing localised COVID related lockdowns, and a…

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