Executive Summary China: GeoRisk Indicator  A new equilibrium between NATO, which now includes Sweden and Finland, and Russia needs to be reestablished before geopolitical risks in Europe subside. Russia aims to inflict a…

In this Strategy Outlook, we present the major investment themes and views we see playing out for the rest of the year and beyond.

Executive Summary Russia Squeezes EU Natural Gas  Major geopolitical shocks tend to coincide with bear markets, so the market is getting closer to pricing this year’s bad news. But investors are not out of the woods…

Special Report

Executive Summary Autocracy Hurts Productivity  Over the next six-to-18 months, the Xi Jinping administration will “let 100 flowers bloom” – i.e., relax a range of government policies to secure China’…

Listen to a short summary of this report.         Executive Summary US Financial Conditions Have Tightened Significantly This Year  US financial conditions have tightened by enough that the Fed no…

Special Report

Executive Summary Indian Voter’s Economic Miseries Are Ascendant  India has a strong strategic geopolitical position but is likely to face turbulence in the short term. This is because India remains expensive, and investors…

Listen to a short summary of this report.         Executive Summary The US Inflation Surprise Index Has Rolled Over  Global equities are nearing a bottom and will rally over the coming months as…

Special Report

Executive Summary Favor ASEAN And The Philippines  Southeast Asia is suffering from fading macro and geopolitical tailwinds but there are still investment opportunities on a relative basis. The peace dividend, globalization…

Listen to a short summary of this report.       Executive Summary Global Equities Are More Attractively Valued After The Recent Sell-Off  We tactically downgraded global equities in late February but see…

Executive Summary German GeoRisk Indicator  Russia and Germany have begun cutting off each other’s energy in a major escalation of strategic tensions. The odds of Finland and Sweden joining NATO have shot up. A halt…