Global
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No Respite For Brazilian Markets
No…
Our Private Markets & Alternatives strategists remain positioned for a downturn. Private Equity is most threatened as tariffs intensify existing recession risks. Buyout strategies face stress from record-low distributions and rising LP-GP friction.…
Bonds are failing to deliver defensive convexity; asset allocators should look to tactical curve steepeners for protection. Despite rising growth fears, Treasury yields have risen sharply at the long end. This is a clear break from the typical recession…
The US dollar’s reserve status is not done, but its foundations are starting to crack. Our Chart Of The Week comes from Juan Correa, Chief Global Asset Allocation Strategist. Most defensive currencies, like the yen and the Swiss franc, benefit from a positive…
Our Global Investment Strategists remain defensive, expecting a global recession in the coming months unless the trade war de-escalates meaningfully. They maintain a year-end S&P 500 target of 4450, with downside risk to 4200.While reciprocal tariffs were…
The recent breakdown in cross-asset correlations highlights mounting risk premia on US assets. Last week, the long-standing correlations underpinning our understanding of global markets violently broke down. The Treasury market turmoil had already broken the…
Countertrend buy triggers have been activated for the S&P 500, Nasdaq and Nasdaq versus 30-year T-bond.