The ISM PMI sent a pessimistic signal about US manufacturing conditions in June. The headline index dropped 0.9 points to a 3-year low of 46.0 – it eighth consecutive month below the 50 boom-bust line. This is consistent…
This chart breaks down the factor exposure of the top performers in the US large cap space relative to the largest 500 stocks in the US to see how the current market leaders compare to history relative to their peers. The values…
Gulf Cooperation Council (GCC) oil producers stand the most to gain following the failed coup against the administration of Russian President Vladimir Putin. The biggest beneficiaries will be the Kingdom of Saudi Arabia (KSA…
Has the yield curve lost its ability to “predict” recessions? The widely-followed 2-year/10-year US Treasury curve now sits at -100bps, but it has been inverted since April 2022. Investors have seemingly been on…
Our Geopolitical Strategy service cautions investors of Russian instability, which will likely push up the global equity risk premium in the next few months. After some developments during the weekend, Vladimir Putin and his…
The 231bps rise in the 10-year Treasury yield last year weighed heavily on the relative performance of Growth stocks which lost 22.7% vis-à-vis the Value index in 2022. However, these dynamics have reversed this year with…
Singapore’s exports have historically acted as a good gauge for the health of the global economy. As a small open economy that is extremely exposed to fluctuations in the Asian and global manufacturing cycles, Singapore…