On the Fear Gauge, Germany’s Lamentation, and Chinese Celebrations
A survey conducted by Bank of America among over 200 fund managers revealed that the grand majority of them significantly trimmed their bond holdings. The reasoning behind such trimming is the expectation that the Fed will itself trim its program of bond purchases. In...
Weekly Market Update
Global Market News Global equities reboundGlobal equities rebounded this week. Both the S&P 500 and Dow Jones rose this week, 2.74% and 3.44% respectively. The Nasdaq also gained, closing 2.35% up on the week. The yield on the US 10-year Treasury increased...
Geopolitical Challenges and Statecraft
President Biden traveled across Europe last week with the goal of strengthening relations with European allies and renewing multilateral collaboration on critical global issues such as climate change and trade policy. In our summaries this week, we review two...
On Rates, Monetary Policy, and Valuations: Is it Worth it to Take a Closer Look at Additional European Portfolio Exposure?
More than two weeks ago (on Friday June 4th), we sent an email message to our clients explaining that some metrics and trends make us uncomfortable. Furthermore, we discussed that some trailing stops were initiated. We do not believe that the fundamentals face major...
Weekly Market Update
Global Market News Global equities tumbleGlobal equities tumbled this week as the Federal Reserve revised its inflation expectations. The S&P 500 closed 1.91% down while the Dow Jones posted its worst week since October, losing 3.45%. The Nasdaq also dropped,...
The Day After & the Era of Transformation
Here is our take on the articles summarized below: Classical liberalism - advocating civil liberties and economic freedom under a set of properly defined laws - is one of the foundational ideas of the American experiment. For this week’s summaries, we look at...
Bundling and Unbundling
In the mid 1990s Netscape Communications, one of the early darlings of the dot-com craze, embarked on a roadshow to meet with prospective investors prior to its IPO. In its last meeting, and already late to board the plane from London back to the States, management...
Weekly Market Update
Global Market News Global equities make slight gainsGlobal equities made slight gains again this week. The S&P 500 closed up 0.41% while the Dow Jones lost 0.80%. Meanwhile, the Nasdaq jumped 1.85%. The yield on the US 10-year Treasury fell several basis points to...
Geopolitical Challenges and Statecraft
The world finds itself at a crossroads. Nations can emerge from the pandemic and embrace the opportunities for cooperation and mutual global progress, or the world can continue down the road of division and leaderlessness which inevitably leads to stagnation and...
Crossroads: At the Intersection of Geopolitics and Geoeconomics
Here is a summary of the most important events that unfolded last month, and which may affect economic, financial and geopolitical issues in the months ahead: North America Three major US companies were the victims of cyberattacks in May. The first event was a...
