Highlights US labor-market disappointments notwithstanding, the global recovery being propelled by real GDP growth in the world's major economies is on track to be the strongest in 80 years. This growth will fuel commodity demand,…
Highlights As commodity inflation subsides, so will broader inflation. As broader inflation subsides, so will inflation expectations – because inflation expectations just follow realised inflation. Overweight US T-bonds versus…
Highlights In the near term, the RMB against the US dollar has ceased to be a one-way bet. Market sentiment will re-focus on economic fundamentals, which are less supportive of further RMB appreciation. In the longer term, the…
BCA Research’s Foreign Exchange Strategy and European Investment Strategy services conclude that the global environment and Norway’s continued economic strength will create potent tailwind for the Norwegian krone over…
The DXY weakened following Friday’s disappointing Employment Report release, pushing the index towards 90 – near the critical technical level of 89. The dollar’s move suggests that weaker than expected job…
Highlights The Norwegian economy will continue to grow above trend for the next two years or so. Norwegian inflation will firm up. Among Advanced Economies, the Norges Bank will lead the way in terms of policy tightening; however,…
Highlights Political and corporate climate activism will increase the cost of developing the resources required to produce and deliver energy going forward – e.g., oil and gas wells; pipelines; copper mines, and refineries. Over…
On Friday 4th June, I will be debating my colleague Peter Berezin on the future of cryptocurrencies. I believe that the cryptocurrency asset-class has substantial further price upside, whereas Peter thinks that it is going to zero. So…
US Energy stocks have been on a tear. The S&P 500 Energy sector is up more than 40% so far this year, outperforming the broad index by roughly 30 percentage points. On Tuesday alone – a generally uneventful day in US…