Our Portfolio Allocation Summary for November 2023.
We consider several uncertainties in this week’s report, from the interest rate outlook to the source of the mountain of cash households have amassed since the pandemic began. We have not adjusted our tactical asset-allocation…
The Eurozone’s inflation will continue to slow over the coming months. While this trend will help Bund prices, will it boost the appeal of European equities?
The FX G10 attractiveness model continues to favor the US dollar, but the tide could shift in the coming weeks. Currencies such as the NOK, CHF and even CAD have been rising in rankings in recent months. Using an aggregate of…
The US ISM PMI delivered a disappointing signal about service sector activity in October. The headline index fell from 53.6 to 51.8 – marking a sharp slowdown in activity and falling below expectations of a much more muted…
The US Nonfarm Payroll report indicates that labor market conditions cooled in October. The 150 thousand increase in payroll employment fell below expectations of 180 thousand and marks a slowdown from the 297 thousand increase…
According to BCA Research’s US Bond Strategy service, while economic growth will be a much more important driver of Treasury yields going forward than supply, the Treasury department did make several announcements on…
Our Private Market & Alternatives strategists recently upgraded their recommendation on Crisis Risk Offset (CRO) strategies within Hedge Funds from neutral to overweight. They are not making a tactical call around tail risk…
As expected, the Bank of England kept its bank rate unchanged at 5.25% at Thursday's MPC meeting with six members voting in favor of the decision and the remaining three preferring a 25bps rate increase. Governor Andrew…
In financial systems, cracks typically begin on the periphery and then expand to the center. Hence, the ruptures on the fringes often act as an early warning. These fissures tend to widen and spread to the core, causing a breakdown…