Highlights The markets are already looking past Omicron. Now they have new worries – the Fed battling inflation. In the past, the Fed moved because of confidence that strong economic growth can withstand rates normalization.…
Highlights In this week’s report we update our Chart Pack, updating familiar charts that underscore our strategic themes and cyclical/tactical views. Social unrest in Kazakhstan points to two of our strategic themes: great power…
Highlights Global equities are poised to deliver mid-to-high single-digit returns this year, with the outlook turning bleaker in 2023 and beyond. Non-US markets are likely to outperform. We examine the four pillars that have…
Following another sell-off, S&P airlines have been regaining some altitude of late despite US Covid cases and hospitalizations rising. The surge in Omicron infections appears to be priced in. Airlines have underperformed S…
Highlights Demand in the major economies remains well below its pre-pandemic trend. Meaning that relative to potential output, demand is lukewarm, at best. Inflation is hot, not because of strong overall demand, but because of the…
Highlights Industry Deep-dive Report: The Semiconductor and Semiconductor Equipment Industry (“Semis”) has had a fantastic run over the past 12 months. We have been overweight it since June and the trade is ahead of the…
Dear Client, Thank you for your continued readership and support this year. This is the last European Investment Strategy report for 2021. In this piece, we review ten charts covering important aspects of the European economy and…
Almost two years ago, the Fed and other Central Banks (CBs) flooded the market with liquidity in an attempt to help the global economy and the financial sector to battle the pandemic. One of the unintended consequences of the…
Dear Clients, This is the final publication for the year, in which we recap some of the key economic developments this month. Our publishing schedule will resume on January 6, 2022. The China Investment Strategy team wishes you a very…