Our Portfolio Allocation Summary for July 2024.
According to BCA Research’s Commodity & Energy Strategy service, a Fed pivot to rate cuts will provide gold prices with a tailwind. At first blush, the historical evidence is mixed. While gold rallied in the three…
In light of this week’s RBA decision to keep policy on hold, we look at the best possible trades in fixed income markets. In our view, inflation-linked bonds, relative to nominals remain a good bet.
Our Portfolio Allocation Summary for June 2024.
The rally in gold continues and spot prices flirted with their all-time highs last week. Interestingly, these gains have occurred despite the rise in real yields, with which they are usually strongly inversely correlated.…
The US Citi Economic Surprise Index has recently dipped below zero, indicating that US economic data releases have been disappointing expectations. Most notably, the ISM Services PMI started contracting in April against…
Our Portfolio Allocation Summary for May 2024.
The Fed left the policy rate unchanged following its May FOMC meeting. It also announced it would slow the pace of quantitative tightening starting on June 1, from the current $60 billion per month to $25 billion per month for…
The details of the JOLTS report showed a labor market that continued to cool in March. The number of US job openings decreased to 8.488 million in March, from 8.813 million in February, and below expectations of 8.680 million…