We remain bullish both bonds and equities, but conviction is falling. We are Luddites when it comes to the AI theme, but we have followed it regardless. A bubble is a bubble, not to be shorted. Yet Europe’s weak AI returns reveal…
The dollar’s early 2025 decline was a reflection of a global rush to hedge accumulated USD exposure, not a mass exodus from US assets. With most hedging now complete, currency moves should again follow fundamentals, setting the stage…
European sentiment indicators weakened again in August and September, reinforcing tactical US outperformance. While the September flash consumer confidence print beat expectations, it is still sluggish. Surveys such as Sentix and ZEW…
The Fed is mispriced for the rest of 2025. We explain why the dollar is poised to rebound and the trades to position for it.
The Fed’s actions tell us that it has chosen to avoid a recession at the cost of moving its inflation goalposts to 3 percent. Thus begins the slippery slope to price instability. Long-term investors should underweight the dollar, own…
From Treasurys to tokenization, stablecoins are quietly becoming one of the most disruptive forces in global finance, with the power to compress yields, deepen dollar penetration, and shift the balance within crypto markets. Explore…
USD-denominated Emerging Market bonds have been outperforming US corporates for the past year. We don’t think the rally is exhausted yet.
A fleeting greenback rally post Fed rate cut will offer a final chance to reset short dollar exposures. See why undervalued Asian FX are poised to lead the next leg lower in USD and how to position now.
Trump-era policy patterns are reappearing in FX, supporting a temporary bounce in the dollar. Our Chart Of The Week comes from Chester Ntonifor, FX Solutions and Special Reports strategist.Chester updated his “KISS” (Keep It Simple…
Our Bank Credit Analyst team sees stablecoins and cryptocurrencies as unlikely to displace fiat, but expects their use to grow, with central bank digital currencies (CBDCs) ultimately dominating. Stablecoins are here to stay as…